I'm a bit more concerned over this delay in finalising the construction contract which should have been concluded some months ago. I suspect that this may be more the reason for the delay in filing as oppose to how the land will be valued.

With CCC pretty much guaranteed the job (and the clock now running to complete the development) they could be holding LLC over the proverbial barrel. Every $1 CCC get directly into their pocket through the construction contract, is $1 they don't have to give away 85% of to the other shareholders in the form of profits on the development.

Such major deals can be extremely complex and will take time. From LLC's point the success of the development depends on this deal. Of course, I would rather wait for a good deal than just any deal.