By allowing ads to appear on this site, you support the local businesses who, in turn, support great journalism.
Gainesville to pay rent on square parking lot
Site owned by Carter Realty; city will pay for usage rights
Placeholder Image

Gainesville officials are prepared to cut a $4,766 check to Don Carter Realty as “rent” payment for the use of the parking lot tucked between the downtown square and the Brenau Downtown Center.

Gainesville officials are prepared to cut a $4,766 check to Don Carter Realty as “rent” payment for the use of the parking lot tucked between the downtown square and the Brenau Downtown Center.

The Carter realty firm purchased the property at 106 Spring St., known as the “fourth side of the square,” for $400,000 from the city in 2001.

As the property remained undeveloped, the Carters allowed the city to continue using it for parking free of charge. But no longer.

Doug Carter told The Times he will sign a lease agreement to allow the city to enforce parking at the lot. In exchange, Carter said he wants to be reimbursed for the taxes his realty firm pays on the property.

“We felt like that was more than fair,” he added. “We have never charged (the city) one penny.”

During a work session Thursday morning, city officials said they agreed the deal is fair.

City management said they would provide a check to the Carters in the amount of taxes owed on the property. The firm then will use that money to pay down its taxes.

The deal will continue unabated every year until the property is sold or developed.

Plans to develop a two-story, 40,000-square-foot mixed-use project including office and retail space on the site never materialized, and the Carters are now looking to sell the property.

The assessed value on the property, according to Hall County records, is $368,500. But this value may not reflect the true market worth or appraised value.

The sale price is listed at $1.49 million.

“There seems to be a good bit of interest starting to develop around it,” Carter said.