Land Update
As mentioned yesterday, we have some news to celebrate. After some initial conversations and some fruitful negotiations, we have come to an agreement with the city regarding the sliver of land they’d like for the Emerson Road expansion.
The details:
$60,400 = Total amount of sale
$11,259 = Fees for appraisal and lawyer
$49,141 = Amount to be applied to mortgage
Where’s that leave us?
While there is no way to know when they’d begin work, what we do know is that we have already received and applied the net revenues directly to our mortgage. At the beginning of April, we had a mortgage balance of almost $1,650,000. After the monthly payment and the extra payment of $49,000 are processed, the balance will be less than $1,586,000.
On another note
As mentioned yesterday, we have hired a broker and are receiving interest towards our north lot (ball fields). They've been doing great work and is hopeful that we may receive and offer in the near future.
It appears as if God is on the move.
The details:
$60,400 = Total amount of sale
$11,259 = Fees for appraisal and lawyer
$49,141 = Amount to be applied to mortgage
Where’s that leave us?
While there is no way to know when they’d begin work, what we do know is that we have already received and applied the net revenues directly to our mortgage. At the beginning of April, we had a mortgage balance of almost $1,650,000. After the monthly payment and the extra payment of $49,000 are processed, the balance will be less than $1,586,000.
On another note
As mentioned yesterday, we have hired a broker and are receiving interest towards our north lot (ball fields). They've been doing great work and is hopeful that we may receive and offer in the near future.
It appears as if God is on the move.
Posted in Pastoral
No Comments