Announcement: Springhouse Properties Buyer Selection

 A cash offer has been selected for the Springhouse Properties for a total value of $3,450,000 with no due diligence or contingencies.* The offer comes from Mr. Dave Davis who recused himself from the decision, and intends to donate it to an entity such as South Whitehall Township to preserve its use for farming, open space or community.

The selected offer includes three parts:

1. $1,480,000 in cash, as-is / unapproved* for the Springhouse Properties
2. Cancellation of the mortgages held against the Springhouse Properties ($775,000) and the Orefield Road Properties ($675,000) totaling $1,450,000, which are due upon the sale of the Springhouse Properties. 
3. A charitable donation of $520,000 to the Building or Endowment Fund

Five total offers were in the final consideration. This offer was chosen because there were no contingencies (approvals that commercial buyers must obtain from the township for their development plans) and the total offer was well above the appraised values. Additionally, parts 2 and 3 of the offer are non-taxable to the church, there are no realtor fees, and legal fees will be minimal. 

*For further detail and explanation, see handout available at the church or contact the church office or one of your Parish Council members.