Sale of St. Michael’s Church in Guam
Resolution text
RESOLVED, That the Executive Council of the Domestic and Foreign Ministry Society of the Protestant Episcopal Church in the United States of America, approves the sale by the Domestic and Foreign Missionary Society of the Protestant Episcopal Church in the United States of America, of the following property to Zi Jian Han and Ai Fang Cao:
- Lot 2-R3, Block 2 Tract 172, St. Michael’s Church building and lot in Dededo
RESOLVED, That Geoffrey Todd Smith, Chief Operating Officer, is authorized to sign the deed and other conveyance documents on behalf of the Society; and be it further
RESOLVED, That proceeds of the sale shall be remitted to the Society’s account at U. S. Bank but shall benefit the operations of the Episcopal Church in Micronesia, with the following bank information (to be redacted from the public dissemination of this Resolution):
Bank Name: US Bank
Bank Address: St. Paul, Minnesota
Name on Account: The Domestic and Foreign Missionary Society of the Protestant Episcopal Church in the United States of America
Account No.:
Routing No. / ABA No.:
Phone No.: 917-256-2834
Forwarding Address: Margareth Crosnier de Bellaistre
Domestic and Foreign Missionary Society
815 Second Ave.
New York, NY 10017
|
RESOLVED, that this Resolution shall be certified by three members of the Executive Council either by an ink signature or by electronic means:
- ________________________
Chair - ________________________
Vice-Chair - ________________________
Secretary
-----
Explanation
Further to the planned consolidation of real estate assets in Guam, a buyer has been found for the former St. Michael’s Church building in Dededo, Guam (Lot 2-R3, Block 2 Tract 172). This building was listed for sale at $599,000, but due to the very poor condition of the building, will be sold for $518,000. The buyers, Zi Jian Han and Ai Fang Cao, are residents of Guam who own and operate a small general store (one of several that compete with the K Mart on the island), and they intend to use this building as a warehouse for their inventory. The resolution requested is required by the title insurance company to certify the Chief Operating Officer of the DFMS is authorized to sign the sales documents.