Quote Originally Posted by downtownguy View Post
Not true. Recovery Park, a non profit organization owns Recovery Park Farms, a for-profit enterprise. Recovery Park Farms will be liable for taxes on their profits, as is any for profit business. After tax profit will be overseen by the non-profit's board of directors, and will likely be directed to supporting more social benefit programs under its mission.

Not unlike a coffee shop within a museum. The non-profit museum ultimately has to pay Unrelated Business Income Tax on the profits of the coffee shop. In the case of Recovery Park, they have chosen to create a separate for-profit entity, thus providing even more transparency.


The city is leasing the land to the non profit ie: Tax exempt.

Read their web sites it says non profit but their mission is for profit over and over,when this first came up awhile back they had raised "shy" of a million towards their goal of $15 million,a year later they still are at their original funding start.

They are saying that they have a $8 million commitment,if they had that they could go to investors and loan on that commitment.

If it were me I would get a deal from the city under a tax exempt statues to minimize carrying costs and have no taxes,have everything set up in place to put a pot farm,then when it is approved just change to tax statues.

It is a $6500 gamble.