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COST OF REVENUES | 12 Months Ended
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Apr. 30, 2023
COST OF REVENUES |
COST OF REVENUES | (8) COST OF REVENUES Land sale cost of revenues, net consist of (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Year Ended April 30,
​ | ​ | 2023 |  | 2022
Land sale cost of revenues | ​ | $ | 22,477 | ​ | $ | 21,198
Less: | ​ |  |  | ​ |  |
Public improvement district reimbursements | ​ |  | (759) | ​ |  | (558)
Private infrastructure covenant reimbursements | ​ |  | (626) | ​ |  | (184)
Payments for impact fee credits | ​ |  | (3,713) | ​ |  | (2,811)
Land sale cost of revenues, net | ​ | $ | 17,379 | ​ | $ | 17,645
​ Land sale cost of revenues, net includes all direct acquisition costs and other costs specifically identified with the property and an allocation of certain common development costs associated with the entire project. Amounts received from public improvement districts, private infrastructure covenants and payments for impact fee credits reduce the amount of land sale cost of revenues. A portion of the Lomas Encantadas subdivision and a portion of the Enchanted Hills subdivision in Rio Rancho are subject to a public improvement district. The public improvement district reimburses the Company for certain on-site and off-site costs of developing the subdivisions by imposing a special levy on the real property owners within the district. The Company has accepted discounted prepayments of amounts due under the public improvement district. The Company instituted private infrastructure reimbursement covenants on various land development projects. Similar to a public improvement district, the covenants are expected to reimburse the Company for certain on-site and off-site costs of developing the subject property by imposing a special levy on the real property owners subject to the covenants. The Company has accepted discounted prepayments of amounts due under the private infrastructure reimbursement covenants. Impact fees are charges or assessments payable by homebuilders to local governing authorities in order to generate revenue for funding or recouping the costs of capital improvements or facility expansions necessitated by and attributable to the new development. The Company receives credits, allowances and offsets applicable to impact fees in connection with certain off-site costs incurred by the Company in developing subdivisions, which the Company generally sells to homebuilders. Home sale cost of revenues includes costs for residential homes that were sold. Building sales and other cost of revenues for 2023 consist of expenses associated with the cost of goods sold for landscaping services. Building sales and other cost of revenues for 2022 consist of expenses associated with the sale of a 143,000 square foot warehouse and office facility located in Palm Coast, Florida and the sale of a 4,338 square foot, single tenant retail building in the La Mirada subdivision.

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