The Former School Property
The Former School Property Sold
As I announced last weekend, settlement was reach for the sale of the former St. Bridget School Property (two buildings and small lot behind the Church) on Wednesday, August 27, 2014. HOW Properties, has purchased this property; their plan is to turn the space into rental apartments and a parking lot.
St. Bridget Parish received $1,109,000, net of settlement expenses, for the former school property on Stanton Street. This sale allowed St. Bridget’s to satisfy its debt to the Archdiocese of $460,000.00 (past due insurance, assessment and pension payments). This means St. Bridget parish is now debt free; and we are current on all of our financial obligations.
The balance from the sale of the former school property, $649,000 will allow us to have funds available for some much needed masonry repairs and restoration to the Church and Rectory Buildings. It will also provide a reserve to handle any major or unexpected issues that would arise (such as boiler or roof replacement) or any special projects but will not be used for general operating expenses.
Thank you to our dedicated parishioners and Parish Business Manager
The sale of this property ends more than a two year process. Thank you to our Parish Finance Council and especially to Finance Council Members: Mr. Phil Hughes, Mr. Frank Ashmore, Mr. Terry Cunningham and Mr. John Grady; and Mrs. Cindy Barton, our Parish Business Manager. This group of dedicated parishioners and staff guided this process every step of the way, and very generously volunteered their time, and/or always willingly shared their professional advice. I am very grateful to each one of these wonderful people.
The Parking Parish Lot
The real estate deal with HOW Properties does NOT involve our parish parking lot. Our parking lot will remain exclusively for parish use. The parish owes a debt of gratitude to Heather Petrone Shook , of Petrone Realty, for keeping all of our parking spaces for parish use.
That’s because Heather Petrone Shook, and her family, made available for sale 12 garages they owned on Stanton Street to HOW Properties. These garages and the small lot behind the Church will provide enough parking spaces for the residents of the future apartments.
Bittersweet for all of us
It needs to be acknowledged, the closing of our beloved St. Bridget Parochial School was a very painful experience for St. Bridget’s parish. Selling the former school property no doubt is bittersweet for most if not all of us. “Bitter,” because we no longer own those buildings built by our fore bearers – it really spells the end of an era for St. Bridget’s.
I’m sorry for any sadness this may cause any parishioner; I understand how you feel. This was not an easy decision; and it was made only with the overall support of our parish pastoral and finance councils. Difficult though the decision was, we believe it is the right one for the good of the parish.
“Sweet,” because selling the former school property allowed St. Bridget’s to satisfy its debts putting the parish on more solid financial ground. The Archbishop has made it abundantly clear that parishes with a future are those who can meet all of their financial obligations. This sale assures our present & future sustainability as a parish.
Thank you St. Bridget Parishioners
I appreciate you, the wonderful parishioners of St. Bridget Parish. I thank you for your patience & support throughout this whole process; and throughout these seven years I’ve been blessed to be pastor of this great parish. Let’s continue to work together, generously sharing time, talent, and treasure building up our parish community of St. Bridget.