Bethany College is pleased to announce the Town of Hepburn has purchased a large portion of the existing Campus. In our discussions with the Town, we intend that Bethany College will continue to operate within the community of Hepburn. The Town making this purchase is a large answer to prayer and shows their vision in this facility being an asset to the community. The speed with which the transaction occurred and was finalized speaks to God’s hand being in this. We would also like to thank the Canadian Conference of Mennonite Brethren Churches (CCMBC) who is the organization holding the mortgage on the campus. They have walked with us, and been very supportive of us as we have worked to discern our financial future over the last few years, and were very collaborative in finding a solution that allows us to deal with our financial burdens and ensure we can operate the Thrive Program into the future.
The Town of Hepburn has purchased Parcel 8 (a portion of Center Court and land on the east and north side of the campus). and Parcel C (all of the Administration Building, Bethany Place, North Court, a portion of Center Court and land north of Center Court) for $470,000. CCMBC has discharged the portion of mortgage associated with Parcel 8 and Parcel C and removed the liens from those two parcels. The Town will take possession of these parcels on May 1, 2021.
Bethany College intends to purchase Parcel 5 (the former Men’s Dormitories and the land north of the Men’s Dormitory up to the main entrance lane). Once we have arranged for the purchase, CCMBC will discharge the remainder of the existing mortgage, and remove the lien on this parcel.
CCMBC has agreed that once they receive the full amount of $550,000 ($470,000 from the Town and $80,000 from Bethany College), the entire existing mortgage will be retired, and Bethany College will be under not further financial obligation to CCMBC. Bethany College is also absolved from all deferred maintenance costs associated with that portion of the campus purchased by the Town.
Bethany College is extremely pleased to know we are now secure in the long-term viability of the Thrive Discipleship Program operating here in the community of Hepburn.
Thank you, our faithful supporters for your prayers and encouragement since we decided to continue doing the Lord’s work and created Thrive. We will continue to pursue sustainability and stability for the Thrive Program into the future.
If you have any questions, please send them to firstname.lastname@example.org