It's too early to tell what effect the sale's collapse might have on the Milwaukee Catholic Archdiocese's 2009-'10 budget, which begins July 1, said archdiocese spokeswoman Julie Wolf.
The archdiocese wants to sell the property to pay off a $4.65 million loan it incurred to help cover its $8.25 million portion of a nearly $17 million settlement of 10 sexual abuse lawsuits in California in 2006. The delay in the sale has no effect on the terms of the loan, Wolf said.
Too early to tell? Won't the effect on the budget be having to continue to pay on that loan?
[Cardinal Stritch drops Cousins Center purchase, by Tom Daykin, Milwaukee Journal Sentinel, posted April 29, 2009]
Well there is always the money in the successful "Forward in Faith" campaign. I am sure there is a way for them to get their hands on that money, in spite of what the people have been told.
ReplyDeleteI think the Archdiocese would be the lowest form of stupid to touch Faith in our Future money for the lawsuit.
ReplyDeleteIt's been a large point of their pitch, and it would only breed insecurity and resentment towards the campaign, which, if I recall correctly, is not even halfway through.
You can bet that the Park Bank boyzzz are NOT happy with the possibility of rolling over that loan.
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