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TLF Maybrook donates 38 acres to City of Oaks Foundation

TLF Maybrook Donation

TLF Maybrook donated 38.5 acres of land in Raleigh to the City of Oaks Foundation in December. “We felt like it was the right thing to do given its proximity to Walnut Creek and the greenway” said Jim Anderson, the managing member of TLF Maybrook.

The land is located next to the Walnut Creek Amphitheater and bisects the Walnut Creek Greenway trail. The land, which is valued at $1.5 million, is heavily wooded with beech, hickory and oak trees. The City of Oaks Foundation’s executive director, Kevin Brice, thinks it would be a great location for a park that serves the surrounding neighborhoods.

That’s $1.5 million the city doesn’t have to spend on land acquisition.

Donation Tax Credit Included

The donation by TLF Maybrook is expected to meet the requirements of the conservation tax credit.  The credit allows corporations/partnerships to reduce their tax bills up to 25% of a property’s value with a maximum cap of $500,000, through an easement or donation.  If an individual qualifies for the credit, he has a maximum cap of $250,000.  This credit expired on December 31, 2013.

Who is TLF Maybrook?

TLF Maybrook is a subsidiary of the Triangle Land Fund, a land investment group in the Triangle that buys distressed properties. TLF Maybrook was formed in August 2012 with the intent to buy 60+ vacant lots in the Maybrook Forest subdivision in southeast Raleigh.

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Lauren Matas joined Fuller Land & Development in 2014 as a Project Coordinator. Her responsibilities include obtaining municipal permits and entitlements as well as managing the day to day activities for development and investment projects.

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