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December 2, 2004
March 28, 2015
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Digging in the DC land records database late on a Friday afternoon (isn't that what everyone does to get ready for the weekend?), I see that the ExxonMobil Corporation deeded its land at South Capitol and I in November to the ExxonMobil Foundation. There's nothing stated in the deed about any planned uses for the land, except to spell out restrictions on future uses and requirements for cleanup since the site may have contaminated soil. As for the foundation itself, a little blurb describes it as the "primary philanthropic arm of the Exxon Mobil Corporation in the United States. The Foundation and the Corporation engage in a range of philanthropic activities that advance education, health and science in the communities where ExxonMobil has significant operations." Is this the prelude to selling the land (assessed at $16 million in 2008) and having the foundation get the proceeds? Or is something else afoot?
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DContheMove says: (1/5/08 6:35 PM)
Of course it's a prelude to the selling of the property. Name a foundation that isn't interested in earning money from its assets. Why would they take title to a vacant lot and then pay a hefty property tax bill.

This property will be unloaded as soon a suitable buyer with the right amount of cash comes a-calling.

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