Silverleaf Resorts Inc., which plans a $42 million vacation condominium project at the foot of Brodie Mountain has been halted indefinitely because of a dispute over its access road. The company intends to build a 332-unit condominium project on the 1,080 acres of land it has acquired around Brodie Mountain since 2004. Construction of the turbines was expected to be completed in January, and by next spring to start generating enough power for 6,000 area homes. The Massachusetts Municipal Wholesale Electric Co. owns the electricity distribution rights the wind turbines would generate.

Silverleaf Resorts Inc. announced that Michael A. Jenkins has agreed to rejoin its Board of Directors to fill a vacancy created by the resignation of R. Janet Whitmore, who resigned effective August 5, 2009. Mr. Jenkins previously served on Silverleaf's Board of Directors between 1997 and 2002. He is the President of Leisure and Recreation Concepts Inc. In a related change, Herbert B. Hirsch, an independent director and audit committee member since 2002, has been designated by the Board of Directors as the audit committee financial expert. Prior to his service on Silverleaf's Board, Mr. Hirsch held a number of executive positions involving the financing of timeshare operations and financial reporting for timeshare companies.

Silverleaf Resorts Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company's net sales were $48,263,000 against $51,717,000 a year ago. Income before provision for income taxes was $4,636,000 against $9,571,000 a year ago. Net income was $2,727,000 or $0.07 per basic and diluted share on total revenues of $67,768,000 against $5,886,000 or $0.15 per basic and diluted share on total revenues of $69,068,000 a year ago. Net income was negatively impacted by the write-off of $2.7 million of predevelopment costs associated with the termination of a potential land acquisition in June 2009, which was recorded in operating, general and administrative expense. Income before provision for income taxes was $4.6 million against $9.6 million a year ago. For the six months, the company's net sales were $92,315,000 against $102,480,000 a year ago. Income before provision for income taxes was $12,157,000 against $21,678,000 a year ago. Net income was $7,315,000 or $0.19 per diluted share on total revenues of $130,932,000 against $13,332,000 or $0.34 per diluted share on total revenues of $136,094,000 a year ago. Net income was negatively impacted by the write-off of $2.7 million of predevelopment costs associated with the termination of a potential land acquisition in June 2009, which was recorded in operating general and administrative expense. Income before provision for income taxes was $12.2 million against $21.7 million a year ago.