Posted on 11/03/2011 6:55:36 PM PDT by TSgt
Chapman University has increased its offer to purchase the 40-acre Crystal Cathedral property by $1.5 million, taking the total offer to $51.5 million.
The university also has the blessing of the church's creditors committee, which in court documents filed Monday named Chapman as the preferred buyer.
In addition, the university was selected over the Roman Catholic Diocese of Orange by the cathedral's board, despite the diocese's higher offer of $53.6 million. The Chapman offer includes a 15-year leaseback and buyback option that would allow the cathedral to continue its ministry and iconic "Hour of Power" broadcasts, which have a worldwide audience. The diocese's offer would require them to move to a different worship space in three years.
Attorneys for the diocese filed an objection in bankruptcy court Friday, stating that the Chapman proposal is not feasible. They said the cathedral, given its revenues and expenses over the past year, will run out of funds by May 2012 and be unable to make its lease payments to the university.
(Excerpt) Read more at kansascity.com ...
I guess Schuller didn't think positive enough! LOL!
Or maybe it was the limo driver?
Crystal Cathedral email asks for food donations for Arvella Schuller
http://latimesblogs.latimes.com/lanow/2011/11/crystal-cathedral-email-asks-for-food-donations-for-arvella-schuller-.html
An e-mail sent by Pastor Jim Kok said that Arvella Schuller has been “very weak,” but that church staff and the Schullers wish to keep her situation “under the radar,” so they don’t want get well cards.
“However they would appreciate meals over the next 3-4 weeks,” the e-mail reads.
It also specifies food guidelines such as no salt, fruit plates, meals with protein, no sweets and specifies that egg dishes such as quiche “would be good.”
The e-mail asks that the food be delivered to the Tower Lobby of the church, and said that the food would be delivered by a limo driver.
Some congregants took issue with the fact that a limo driver would deliver the meals.
Bob Canfield, 73, of Yorba Linda said that the action is another example of wasteful spending by the church administration.
“We’re just tired of it,” said Canfield, a congregant who was involved with an online petition to rid the church’s board of Schuller family members. “We’re just tired of them taking advantage of us.”
Recently, the creditors committee in the church’s bankruptcy filed a lawsuit claiming that the Crystal Cathedral Ministry took money from an endowment fund and that family members benefited while the church struggled.
I have nothing against the Roman Catholic Church, but its higher offer is irrelevant as long as the creditors are satisfied with the other arrangement.
I’m honestly not sure why they would want this gaudy thing.
People make decisions for their reasons; not yours nor mine, but I do agree with you.
Chapman University has increased its offer... to $51.5 million... the university was selected over the Roman Catholic Diocese of Orange by the cathedral's board, despite the diocese's higher offer of $53.6 million.
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