According to Carroll County tax records, WPS Eureka based in Dexter, Mo., purchased about 600 acres off Rockhouse Road near Keels Creek from the Ybarguen family trust for $1,050,000 in October 2018.
The two LLCs that entered into conservation easements with TBGLT are Cedar Grove Property LLC and Trigger Gap Property LLC.
The Form D SEC filings for Cedar Grove Investments LLC based in Sandy Springs, Ga., indicate a total offering of $9.6 million, with $7.8 million sold and $1.7 million remaining to be sold. The amount of gross proceeds that has been or is proposed to be used for payments to persons named as executive officer, directors, and promoters, is $3.2 million.
Form D documents filed with the Securities and Exchange Commission show that the pooled investment fund estimate offered for the Trigger Gap Property LLC is about $9.1 million with all of that remaining to be sold. Gross proceeds of the offering that have been or are proposed to be used for payments to any of the persons required to be named as executive officers, directors or promoters is $2.3 million.
Form D SEC filings for Keels Investments LLC based in North Miami, Fla., indicate a total offering amount of $7.3 million with all of the remaining to be sold. The proposed amount of the gross proceeds proposed to be used for payments to executive officers, directors or promoters is estimated at $168,000.
According to federal law, a probable fair market value for a Section 170(h) charitable contribution deduction provided to the taxpayer/investors typically is represented by preliminary appraisals in a private placement memorandum. The PPM will usually provide a preliminary appraisal approximately 4.25 times the gross offering amount listed in the SEC filing.
Income tax regulations require a final “qualified” appraisal within 60 days of the date of the easement.