91原创 Legion Branch 21 has announced a deal that will solve its money problems by selling its current home at 20570 56 Avenue, then lease the top floor back from the new owners for 10 years.
鈥淚t wasn鈥檛 an easy decision to make, but it was the best thing we could do to get this Branch back on its feet financially,鈥� branch president Shirley Blair said in a written statement issued Tuesday, May 28.
鈥淭his will allow us to stay in our home, continue our operations, and provide the support many people have come to depend on.鈥�
The sale will be finalized July 7.
Under the terms of the deal, the Legion will maintain the upper portion of the building for 10 years.
It will lease and sublet the bottom floor for the first year, then the new owner will take over.
The 86-year-old Legion got into financial trouble when it moved from its old home on Eastleigh Crescent to the newer, smaller building.
The branch had planned to spend between $400,000 and $700,000 on renovations and upgrading to its new property, but it turned out that the building they purchased needed more than $1 million in improvements.
That was more than they鈥檇 paid for the property and left the organization carrying a large mortgage.
