Today's Sitka Sentinel reported that on Tuesday the SJ(C?) Board of Trustees met on campus. Hmm... you think they might actually let someone know before they meet if they want any community involvement. Trustee Heather McCarty stated in the article that, "the community needs to have a coordinated voice in some way." How is this going to happen if the community continues to be kept out of the process? To date, no Trustee meeting minutes have been made public since before the closure.
The article also addressed the sale of the campus to pay off approximately $12.7 million in debt, $7.7 million of which is owed to Alaska Growth Capital. Three lots are currently for sale, and McCarty reiterated the Trustees' commitment to holding onto the core campus until a buyer is found that wants to operate a "training, education, and Alaska Native cultural center." McCarty also mentioned that the Trustees will not operate the campus.
Ms. McCarty estimated the value of the land for sale at just over $14 million, presumably leaving the trustees with $2 million after retiring all debt, should everything go as planned.
Subscribe to:
Post Comments (Atom)
4 comments:
As you said, they don't involve the community, my question would be "what is the source of money that keeps them going". I was told they would "disband" in August if they did not find some one to take over the campus. Liquidation seems a proper way for closure. Now they are waiting for, what?
Compare the $$ figures in this report to PCUSA and those in the newspaper article:
http://www.pcusa.org/gac/business/sept08/information/218.pdf
http://www.pcusa.org/gac/business/
sept08/information/218.pdf
So listening to the Raven Radio report today, I learned that the college is $13 million in debt with a property value of $14.7. Hmmm, do we believe the previous story, the report given in September to the Presbyterian Church USA (which continues to contribute to SJ), or what?
Post a Comment