Building Update from the Board of Directors

Building Update from the Board of Directors
Thursday, November 16, 2017

 

We have listed our property with Mr. Bob Galamba with Colliers Real Estate.  He specializes in selling churches. The asking price is $3,300,000.  We owe a little less than $1,500,000.  The property is assessed by the county appraiser at $2,485,000.  

As of now, we have shown the property three times.  One of those who toured the facility has a company that repurposes church buildings.  During the tour, he indicated our campus is in better shape than any he has seen in this area.  He felt he could turn the upper floor into a school with very few changes.  Unfortunately his business model would only allow him to offer $1.7 million for the entire building.  We also approached the Brookridge developer with no interest returned.

While planning for an offer for the property, we are also asking our realtor to find us a church building that has around 450 seats, classrooms, offices and a hospitality area.  Our target is to spend in the neighborhood of $1.5 million.  By selling our current building for $3.3 million, this will find us in a facility with no mortgage that fits us now, with room to grow.

We are also open to any opportunity that might allow us to share our current home with us – a school, another faith based group or any idea that could work for us.

In the near future, probably in mid-January, we will call for a membership meeting to preapprove a sale.  This is required by our bylaws.  Stay tuned.

Your Board of Directors knows that Spirit is guiding us on this journey and the outcome will find us in the perfect home for this marvelous spiritual community.  We ask that you hold hold this process in prayer knowing that God is our Source. 

Bless you all,

Your Board of Directors