The Council of Elders announces a congregational meeting of members at 5:00 p.m. on Sunday, June 28. This will be an online meeting. Members, watch your email for connection via Zoom webinar. Our agenda item under consideration will be final approval for the church to purchase the properties at 319 and 323 E. Seminary Ave.
The resolution under consideration is:
Resolution to Approve Purchase of the Properties at 319 and 323 E. Seminary Ave.
WHEREAS: The properties at 319 and 323 E. Seminary Ave. are seen as a strategic acquisition for College Church because they sit in the middle of the other church-owned properties along Seminary Ave.; and
WHEREAS: The Site and Facilities Committee and the Council of Elders agree that purchase of these properties would enhance our ability to plan for future expansion of the sanctuary building and/or parking facilities to the west; and
WHEREAS: On March 15, 2015, the Regular Members approved entering into a 5-year nonbinding option agreement to purchase these properties; and
WHEREAS: The church has entered into a purchase agreement contingent on approval by the members to exercise the option to purchase the properties at 319 and 323 E. Seminary Ave. on March 3, 2021, for a combined purchase price of $1,005,000:
NOW, THEREFORE, BE IT RESOLVED: That the Regular Members hereby approve of the purchase of the properties at 319 and 323 E. Seminary on or about March 3, 2021, per the terms of the purchase agreement; and
FURTHER RESOLVED: That the church will work at raising necessary funds through the capital campaign, but if such giving is insufficient, we hereby authorize the church to borrow up to 80% of the purchase price at reasonable commercial terms.
Information meetings prior to the member meeting will be Wednesday, June 24 and Saturday, June 27, both at 5 p.m. These will also be online meetings.
If you are a regular member and cannot make the meeting, you can request an absentee ballot by emailing Nancy Singer.