Sale of CFC Office Condominium

[Jonathan Berry]

it is listed with MLS. Asking price is $ 149,900.

Considering some people were speculating with prices as low as 100k, this asking price doesn't look so bad.

I thought I saw Larry Bevand quoted with a price starting with the figure "2" and having six digits before the decimal point. That was in a post that has scrolled off, on a board that doesn't exist, so you can mark it up to imagination. At the time, I was delighted to hear what I thought to be such a healthy figure.

Gladwin is in the middle of nowhere, in a remote area of an obscure mall, er, shopping complex. The last time I went there, even though I had been there a couple of times before, I found it only with difficulty. I am saddened but not surprised by the new figure.

Olmstead Street was next door to an LCBO (liquor store), a car dealership, and a funeral home. Which I called the Unholy Trinity. You go to one, go to another, then end up at the third. More importantly, it was close to two pretty good pizza places, which was useful on those long-haul address-stickers-on-the-magazine days, with local young strong players as wage-and-pizza serfs. I'll entitle the memoirs: Serfing Olmstead.

[Bob Gillanders]

To answer Peter's questions:

1. Yes. The governors will be consulted on disposition of proceeds.
2. Yes. Foundation loan will be repaid.


Okay.

[Jonathan Berry]

Here is the link to the listing:

http://orebweb1.oreb.ca/mlssearch/fr...mls_num=712088

The Ottawa MLS site is difficult, but I suppose once you get used to it ... perseverence and patience 'r chess--and the CFC.

[Stijn De Kerpel]

Hello Peter/Bob,

Some answers to your questions:

1. The MLS listing # is 712088 , and the asking price for the Office is 149,900.
2. The Foundation will be paid back any monies owing from the proceeds of the sale (this was one of the conditions of the CFC receiving the loan from the Foundation in the first place).
3. I signed the contract for the listing of the building this week - we have not received/rejected any offers as of yet (we have had a couple of viewings already).
4. I cannot speak for the rest of the Executive, but my position is to consult with the Governors for their input on what to do with the rest of the money after our creditors have been paid.

Let me know if you have any other questions.

Thanks,

Stijn.

[Bob Armstrong]

Hi Stijn:

Thanks for bringing the members up to speed - good communication.

Bob

[Peter McKillop]

Thank you, Stijn, for the information.