Ian Rolland, the receiver for the Oakwood property in Syracuse, has found a buyer for the property.
During a hearing Friday on Rolland’s tenth report to Kosciusko County Superior Court I, Judge Duane Huffer accepted an option purchase agreement between the United Methodist Foundation for Adult Christian Ministries Inc. and Oakwood Retreat LLC.
Rolland entered his tenth report to the court on Wednesday and the hearing on the motion to accept the option purchase agreement was held on Friday. In addition to Huffer accepting the agreement, Huffer dismissed the plaintiffs’ claim for failure to prosecute.
The Deputy Attorney General requested that the court take the matter under advisement, in order for the Attorney General’s Office to file a response by Aug. 27.
The court scheduled a hearing on the matter for Sept. 7 at 2:30 p.m.
Within the purchase agreement that Huffer approved, Oakwood Retreat LLC agreed to pay a non-refundable $25,000 sum. If the purchase option is excercised and the property is sold then the payment will be credited against the purchase price, which has not been negotiated yet.
Additionally Oakwood Retreat LLC agreed to loan the foundation $250,000.
The agreement has not been finalized and Rolland is still working out details with Oakwood Retreat LLC.
