Brothers and friends,
Brethren,It is with considerable happiness that I write you this message in regards to Masons Square and our ability to move forward. Today, April 16th, we closed a new loan with the Simatob group and their newly formed entity Masons Development LLC. Community Banks has been paid off and we are no longer in the threat of an immediate foreclosure on our property. We also have enough proceeds to pay off some long overdue bills to our attorneys and ourselves as the lodge has put money in to carry us through on interest until this deal could be finalized. At a minimum this new loan gives us the time to determine a best course of action for our future home and financial position. We are also now looking at the possibility of a joint venture with Masons Development in which we would no longer have any type of loan and could realize enough profits through the development of the land to build a new lodge and give us a considerable endowment.
Now that we have these options the Building Committee in conjunction with EMBA will be researching and reporting on these, as well as others if we find them. As with most projects timing is critical and we will be moving quickly to secure the best options for Englewood #166, for current and future generations of Masons!
More news to follow as it develops!
Fraternally,
Mike Brewer, PM
Building Advisory Committee Chairman
Click here to receive automatic updates.
