Last Sunday a special meeting of parishioners was held to consider the proposal that the parish property at 131 Fendalton Rd be sold to help fund the Hall project.

Here is the motion that was passed at that meeting:

THAT this Special Meeting of the Parishioners of the Parish of Fendalton authorise Vestry to seek approval from CPT and Standing Committee to sell the parish property at 131 Fendalton Road.

THAT provided approval from the Diocese is received, this meeting agrees that the property at 131 Fendalton Road be marketed for sale, as soon as possible, taking into account the tenancy requirements, and the refurbishment required to bring the property to a marketable standard.

THAT any surplus remaining from the sale of 131 Fendalton Road after the costs of the Hall Project be placed in an investment fund for housing.

AND THAT this meeting agrees that the parish apply to CPT and Standing Committee for approval for a $750,000 short term mortgage on that property, to be repaid to CPT on the sale of the property, to allow the parish to make payment to the contractors working on the Hall renovations when those accounts fall due.

BACKGROUND INFORMATION FOR THE SALE OF 131 FENDALTON RD

Prior to 2016 the parish owned the property at 15 Tui Street, which had been used for clergy housing.

Holly Lea was planning an extension of their facility and approached the parish with a proposal to buy that property, and to purchase on our behalf the property at 131 Fendalton Road.

The parish agreed to that proposal, and obtained, at that time, a property that was of greater value than the one in Tui Street for no additional cost.

When the St Thomas property was sold, the parish decided to purchase a modern 3 bedroom townhouse in Plynlimon Road for clergy housing. This left 131 Fendalton Rd available for renting to tenants while the parish decided what they might do with that property in the longer term.

In 2020/21 the parish has been working on a plan to upgrade the Hall, which is to commence on 1 February 2022. Vestry has worked on funding for the project, and to date we have had a good response from parishioners, have had two grant applications declined and another is pending.

The cash flow forecast shows the need to have funds available to pay the contractor commencing around April 2022, and there is concern that we will not have sufficient funds to meet those payments at that time.

Vestry have always been of the view that 131 Fendalton Road would be able to be sold to fund this project should we need to. This Vestry passed a resolution to sell 131 Fendalton Road, provided a Special General Meeting of the parish confirmed that decision.

Vestry has also requested the permission of the Church Property Trustees (CPT) and Standing Committee to proceed with the sale, and has asked CPT for short term, bridging finance so that we can sell the property in a responsible way, after doing some minor renovations and giving the tenants notice.

The parish has funds with CPT for some of those repairs – funds remaining from earthquake insurance settlement of the original Tui Street property which can only be used on 131 Fendalton Road

Dependent on the price that is obtained from the sale of 131 Fendalton Road, the result of the final grant application, and the final cost of the Hall project, we may have the ability to purchase another property, at a lower cost, in the future..

Corinne Haines, Vestry Secretary