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COMMITMENTS AND CONTINGENCIES (Tables) | 3 Months Ended
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Jul. 31, 2014
COMMITMENTS AND CONTINGENCIES [Abstract] |
Development. Expansion and Renovation Projects | Development, Expansion and Renovation Projects. As of July 31, 2014, the Company had several development, expansion and renovation projects underway or recently completed, the costs for which have been capitalized, as follows:
|  |  | (in thousands) |
Project Name and Location | Planned Segment | Square Feet or Number of Units | Anticipated Total Cost | Costs as of July 31, 2014(1) | Loans Closed or Committed | Anticipated Construction Completion
Commons at Southgate - Minot, ND(2) | Multi-Family Residential | 233 units | $ | 37,201 | $ | 33,218 | $ | 24,480 | FY2015 Q2
Minot Wells Fargo Bank - Minot, ND | Commercial Office | 4,998 sq ft |  | 3,288 |  | 1,550 |  | 0 | FY2015 Q2
Cypress Court II – St. Cloud, MN(3) | Multi-Family Residential | 66 units |  | 7,028 |  | 3,168 |  | 4,200 | FY2015 Q3
Arcata - Golden Valley, MN | Multi-Family Residential | 165 units |  | 33,448 |  | 19,048 |  | 24,250 | FY2015 Q3
Red 20 - Minneapolis, MN(4) | Multi-Family Residential and Commercial | 130 units and 10,625 sq ft |  | 29,462 |  | 20,399 |  | 21,726 | FY2015 Q3
Renaissance Heights I - Williston, ND(5) | Multi-Family Residential | 288 units |  | 62,362 |  | 44,251 |  | 43,672 | FY2015 Q4
Roseville 3075 Long Lake Rd - Roseville, MN | Commercial Industrial | 202,807 sq ft |  | 13,915 |  | 2,578 |  | 11,000 | FY2015 Q4
Chateau II - Minot, ND(6) | Multi-Family Residential | 72 units |  | 14,711 |  | 5,681 |  | 0 | FY2016 Q1
Cardinal Point - Grand Forks, ND | Multi-Family Residential | 251 units |  | 40,042 |  | 9,333 |  | 24,500 | FY2016 Q1
71 France Phase I - Edina, MN(7) | Multi-Family Residential | 109 units |  | 29,660 |  | 4,255 |  | 20,365 | FY2016 Q1
Edina 6565 France SMC III - Edina, MN | Commercial Medical | 72,012 sq ft |  | 34,665 |  | 4,204 |  | 0 | FY2016 Q2
PrairieCare Medical - Brooklyn Park, MN | Commercial Medical | 75,000 sq ft |  | 24,251 |  | 4,486 |  | 15,000 | FY2016 Q2
Deer Ridge – Jamestown, ND | Multi-Family Residential | 163 units |  | 24,519 |  | 1,793 |  | 0 | FY2016 Q2
Other | n/a | n/a |  | n/a |  | 874 |  | n/a | n/a
|  |  | $ | 354,552 | $ | 154,838 | $ | 189,193 |
(1) | Includes costs related to development projects that are placed in service in phases (Renaissance Heights I - $23.0 million).
(2) | The Company is currently an approximately 52.9% partner in the joint venture entity constructing this project; the anticipated total cost amount given is the total cost to the joint venture entity.
(3) | The Company is an approximately 86.1% partner in the joint venture entity constructing this project; the anticipated total cost amount given is the total cost to the joint venture entity.
(4) | The Company is an approximately 58.6% partner in the joint venture entity constructing this project; the anticipated total cost amount given is the total cost to the joint venture entity.
(5) | The Company is an approximately 70% partner in the joint venture entity constructing this project; the anticipated total cost amount given is the total cost to the joint venture entity.
(6) | On December 5, 2013, this development project was destroyed by fire. As of July 31, 2014, $4.0 million of expected insurance proceeds were included in accounts receivable on the Company's consolidated balance sheet. See Note 2 for additional information.
(7) | The Company is currently an approximately 55.3% partner in the joint venture entity constructing this project. The project will be constructed in three phases, and at the conclusion of construction of the third phase, the Company will have an approximately 50.5% interest in the project. The anticipated total cost amount given in the table above is the total cost to the joint venture entity of the project's first phase. The expected total project cost for all three phases is approximately $69.9 million for a total of approximately 241 residential units and approximately 21,772 square feet of commercial retail space.

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- Definition Tabular disclosure of an enterprise's obligations to construction, development and renovation projects in the near future under existing contracts or agreements. + References No definition available. + Details
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