Long-time supporters of The Carolina Thread Trail, the Carstarphen family decided it was time to make a more substantial gift—in this case access to approximately 95 acres of land lying along the South Fork of the Catawba River. The land was owned by various affiliates of Pharr Yarns, LLC, which is closely held by the Carstarphen family. It was important that the family’s intent for perpetual preservation be considered together with gift tax, real estate and company operational considerations. The family wanted to make a meaningful contribution to support the regional network of greenways and trails that is projected to reach 15 counties and 2.3 million citizens. They turned to John Morrice and Nick Kendall of Johnston, Allison & Hord to assist in the planning process, coordinate the gifts and complete the transaction.
According to Bill Carstarphen:
“We believe our partnership with The Catawba Lands Conservancy, The Foundation for the Carolinas, The Carolina Thread Trail and the dozens of grass roots volunteer efforts on behalf of land conservation will preserve and enhance this land in perpetuity for the enjoyment of generations to come – long past our lifetimes.”
Johnston, Allison & Hord intends to provide volunteer trail maintenance in 2012 as one of its community service projects to celebrate its 100th anniversary.
Please note that the above JAH article does not constitute legal advice nor does it create an attorney-client relationship. Should you be in need of legal services regarding a particular matter, please reach out directly to one of our attorneys. Click here for our full website disclaimer.