There are many ways to structure a land contribution to the Site Readiness Fund. Each property and donor is unique, and we work closely with owners to identify creative solutions that meet philanthropic, legal, and financial objectives. Options include:
For decades, GE operated a 20-acre light bulb manufacturing facility in South Collinwood. After closing the plant, GE demolished the structure and remediated the site. Rather than sell to the highest bidder for low-value industrial use, GE worked with SRF to pursue a plan that would bring good jobs back to the neighborhood. In partnership with the City of Cleveland and MIT’s city planning program, SRF developed a business plan to attract a modern manufacturing facility. GE sold the property at a highly concessionary rate in 2024, embedding provisions to protect the company from future liability while ensuring the site’s productive reuse.
For years, the Opal Industrial Group LLC owned a 10-acre parcel along the Opportunity Corridor at East 79th Street. SRF was able to work with ownership to structure a bargain-sale agreement, allowing the owners to claim a charitable deduction in exchange for a below market sale price. This transaction is a catalytic land deal with immense potential to create good jobs for our community while demonstrating how creative transactions can advance both economic and philanthropic goals.