LAFAYETTE — A new nonprofit group has been formed to oversee the development of the 100-acre “Horse Farm” into a park, the Community Foundation of Acadiana announced Wednesday. City-parish government bought the tract on Johnston Street in July from the University of Louisiana at Lafayette.

The plan calls for the nonprofit, called Lafayette Central Park Inc., to lease the property from city-parish government and oversee the development and management of the park.

The board of directors for the park nonprofit comprises Elaine Abell, John Arceneaux, Don Briggs, James Caillier, Reggie Dupre, Bill Fenstermaker, Gregg Gothreaux, Randy Haynie, Lenny Lemoine, Mazie Movassaghi, Allyson Pharr, Rodney Savoy, Richard Spoon and David Welch, according to a news release from the foundation.