On the weekend of August 12 & 13, the members of Crossbridge will vote (yes or no) to sell 5 acres of land west of the Ottawa Campus for $325,000. Below are some questions you may be wondering:
Why are we selling this piece of land?
- We were approached by an interested buyer for the far west 5 acres of farm property connected to our Ottawa Campus last year. After negotiations and considerations, they provided a firm offer this summer. The sale of the property provides us money to further accomplish the mission of Crossbridge.
Will the buyer be a “good neighbor”?
- We certainly hope so! Due to contractual obligations, we are not allowed to name the buyer, but we can say they are a “memory care facility.”
How much land does this leave us for future expansions at the Ottawa Campus?
- After the sale of the 5 acres of land, this will leave us approximately another 5 acres of land that is undeveloped (currently farm land). This will leave us a total of 10 acres of property on the corner of Dayton Road and Route 23 in Ottawa.
Does this have anything to do with the 24 acres of land
on the corner of Dayton Road and Champlain Street?
- This vote is not related to the 24 acres of land. When we get an offer on that property, it will require another vote by the members of the church.
Are we making a profit on this property?
- We originally bought this property in 2004. At that time, we bought 10 acres for $500,000 (or $50,000 an acre). We are selling 5 acres for $325,000 (or $65,000 an acre).
What will we do with the money from the sale of the 5 acres?
- We will set this money aside for future projects. According to our bylaws, this money cannot go towards operating expenses.
How does this fit into the overall vision for the future of Crossbridge?
- We recognize that both our Ottawa and Peru campuses will eventually need upgrades to their facilities. Our hope is that we would be able to continue to keep our facilities current as well as start additional campuses in the next several years.