| 1. |
Landowner agrees to sell parcel for a price below market value to non-profit organization suggested by Development Partners |
| 2. |
Landowner further agrees to settle after property has been been fully engineered, entitled, and appraised with capital contributed to the non-profit organization |
| 3. |
In exchange for his concessions, landowner receives:
- Cash from sale price
- The amount of the difference between sales price and new appraised value recognized as a charitable contribution with associated tax benefits
|
| 4. |
Non-profit organization sells parcel to Development Partners to begin development
Why the Bargain Sale works for you
- Bargain Sale lowers land cost
- Reduced development risk
- Accelerated lot absorption
- Reinforces good public policy
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