The Atlanta Business Chronicle highlighted the Georgia Court of Appeals’ decision in favor of Alston & Bird client Piedmont Park Conservancy. The court ruled that the conservancy can lease a portion of its real property to a third party and continue to pay a charitable property tax exemption on the remainder of the property.
The conservancy, a charitable organization dedicated to preserving and maintaining Atlanta’s Piedmont Park, owns a parcel of land adjacent to the park primarily consisting of a single building and a parking lot. After receiving a property tax exemption on the parcel as an “institution of purely public charity,” the conservancy leased a portion of the property to for-profit tenants but continued to use the majority of the property of its own purposes. All of the proceeds from the leases were used to benefit the conservancy’s mission of maintaining Piedmont Park.
Representing Piedmont Park Conservancy is an Alston & Bird team led by partners Clark Calhoun and Mary Benton with support from associate Andrew Yates.
The conservancy, a charitable organization dedicated to preserving and maintaining Atlanta’s Piedmont Park, owns a parcel of land adjacent to the park primarily consisting of a single building and a parking lot. After receiving a property tax exemption on the parcel as an “institution of purely public charity,” the conservancy leased a portion of the property to for-profit tenants but continued to use the majority of the property of its own purposes. All of the proceeds from the leases were used to benefit the conservancy’s mission of maintaining Piedmont Park.
Representing Piedmont Park Conservancy is an Alston & Bird team led by partners Clark Calhoun and Mary Benton with support from associate Andrew Yates.