Quote:
Originally Posted by Biff
Why does St Mary's Cathedral have to sell it's land to make it developable?
|
I did say earlier "sell/lease", just missed on the last one. That said though, I am not sure how the goverance documents of the church are structured. Would those documents allow to to build a commerical space that is not explictly for thier purpose that they would then lease out? Would leasing such as space out to a resturant/bar that is most likely to be in the SHED in keeping with their organizational mission, vision and values? Honsetly, from what I know the church owning the property and leasing it to say Boston Pizza or Moxie's for example seems like a poor fit other than the cash flow side of things. For these reasons I think it would make more sense for the church to sell the parking lot to a developer and then invest the proceeds from the sale into something which is mose closer aligned to their mandadte if long term revenue is the goal.