Present: The Reverend Dr. Deborah White (Rector), Christina Reich (Sr. Warden), Liz Charlton (Jr. Warden), Amelia Brooks, Amy Eudy, David Kennedy, Jane Ramsey, Stephanie Zichichi
M/S/C denotes motion made, seconded and carried. The names following M/S/C in parenthesis denote the persons who made the motion and seconded.
Call to Order and Opening Prayer. The meeting was called to order at 9:02 a.m. and led in prayer by Rev. Deb.
The purpose of this meeting was to receive follow-up information to the Upper Lot report from the Vestry meeting of Wednesday, January 12, 2022 and to discuss and consider two potential proposals for action on the upper lot portion of Grace’s property.
Reverend Deb reported the following:
1) The estimate from DCG on the likely amount that sale of the lot at this time would bring in is as follows:
“There are several recent sales in the area for vacant land that appears to be for a single family detached homes. There is a very limited number of comparable projects where the end product is for such a small number of units. My estimate is the property is currently worth approximately $300k on the market As-Is. A market rate project with a similar density to the Seeno project next door could potentially increase that value to $600k to $700k. But that expects minimal complications and full entitlements for probably 10 regular sized dwelling units. If they find a mission based developer that will not be receiving market rental rates through subsidy I’d expect them to offer closer to that $300k range.”
2) She shared an audio recording of her meeting with L.J. Jennings of the Bay Area Community Benefit Organization (BACBO). The BACBO supports the use of church property for mission-based work. Mr. Jennings offered to raise money to construct small houses at no expense to the church.
The Vestry discussed this information. It was M/S/C (Eudy/Brooks) not to sell the upper lot property at this time and to continue to explore other opportunities for its use in line with the church’s mission.
The meeting was adjourned at 9:17 a.m.
Respectfully submitted by:
Reverend Deborah White, Ph.D.
Clerk pro tempore