This conference was called for the purpose of deciding what to do with the property at 3605 15th Avenue South.
Present were: EdEd Mueller, Julia Phillips, Janet Werness, Conrad deFiebre, Steve Sandberg, Steve Cobian, K.C. Bretzke, Dianne O’Donnell, Fred Glazer, Allen Hillenbrand, Carole Megarry, and Greg Garman. The meeting was chaired by Pastor Walter Lockhart. The Motion before the conference was as follows:
Authorize the board of Trustees of Walker Community UMC to sell the church parsonage located at 3605 15th Ave. So., Minneapolis, MN 55407. The trustees will need to gain the approval of the Twin Cities District Board of Church and Location.
Authorize using the proceeds of sale to pay off the loan against the parsonage and pay for any costs incurred while holding the property for sale since the church office moved out at the end of December, 2013.
Authorize the Finance Committee to safely invest the remaining of the funds in an insured account that preserves the principal. These funds will remain separate from church funds and no principal or interest will be spent until a church conference approves the expenditures.
It was noted that while we could probably resume a relationship with Simpson Housing Services, which historically resulted in gross rent of approximately $800 per month and net income of approximately $400 per month, we currently have no individual trustee willing and able to provide the labor, equipment and materials necessary to maintain the property, which we formerly had. It was also noted that due to a $20,000 sewer repair in recent years, even the “net” income from the property had largely been offset by that one large expense.
Some raised the question of whether it might be feasible to rent the property out at market rate and function as a traditional for-profit landlord. Little information was available about what that market rate rent might be, what management expenses would be involved, and what taxes might be anticipated.
A vote was taken. Nine votes were cast in favor of the motion. No votes were cast against it. There were three abstentions.
It was noted that the motion does not require the immediate listing of the property. If anyone has a plan for retaining the property, that plan must be presented to the trustees via EdEd Mueller not later than July 1, 2014. If the trustees find that an alternative plan is viable, the issue of whether to proceed with the listing and sale or to retain the property will be resolved between trustees and Finance Committee.
Minutes prepared by Carole Megarry.