Homebuilder Delays Payment on $5-Million Gift
April 9, 2008 | Read Time: 1 minute
After making an initial “seven-figure” payment on his gift, John Wieland, an Atlanta homebuilder, said Monday that he has “put on hold” the remaining balance of a $5-million pledge made in 2006 to build a new ethics center at Emory University, reports The Atlanta Journal-Constitution. Mr. Wieland would not say how much he still owed on the gift.
“The pledge included the possibility of recision in case something terrible happened in the homebuilding business, and, obviously, something terrible has happened in the homebuilding business,” said Mr. Wieland.
Ron Sauder, Emory’s vice president for communications, said the new building, which will no longer open with Mr. Wieland’s name on it, will be completed this summer on schedule. However, Mr. Wieland’s decision will cause other campus projects to be delayed.
