SANTA ANA, CA: Catholic Diocese of O.C. will buy Crystal Cathedral
SANTA ANA, CA: Catholic Diocese of O.C. will buy Crystal Cathedral
Crystal Cathedral will lease the core buildings from the diocese for three years and later move to a smaller property on Lewis Street
By DEEPA BHARATH
THE ORANGE COUNTY REGISTER
http://www.ocregister.com/news/chapman-327576-cathedral-board.html
November 18, 2011
After more than four years of familial and financial turmoil, Orange County's iconic Crystal Cathedral will be sold to the Roman Catholic Diocese of Orange.
The saga of this megachurch, which grew from a humble ministry in the Orange drive-in and rose to grandeur with its shimmering glass tower, sanctuary and world-renowned "Hour of Power" television program, will now likely continue in a much smaller, relatively unknown building not far from its current home.
Late Thursday evening U.S. Bankruptcy Judge Robert Kwan issued the ruling, acknowledging the tremendous work put in by Chapman University, the diocese's competitor, which offered as much as $59 million for the 40-acre Crystal Cathedral campus. The diocese will get the property for $57.5 million.
Under the diocese's plan, the ministry will be able to lease the core buildings - including the cathedral and the Tower of Hope - for three years, at $100,000 a month during the first year and $150,000 for years two and three. They also will be able to lease the school building for $10,000 a month until the end of school year 2013.
Read the full story at www.VirtueOnline.org
Crystal Cathedral will lease the core buildings from the diocese for three years and later move to a smaller property on Lewis Street
By DEEPA BHARATH
THE ORANGE COUNTY REGISTER
http://www.ocregister.com/news/chapman-327576-cathedral-board.html
November 18, 2011
After more than four years of familial and financial turmoil, Orange County's iconic Crystal Cathedral will be sold to the Roman Catholic Diocese of Orange.The saga of this megachurch, which grew from a humble ministry in the Orange drive-in and rose to grandeur with its shimmering glass tower, sanctuary and world-renowned "Hour of Power" television program, will now likely continue in a much smaller, relatively unknown building not far from its current home.
Late Thursday evening U.S. Bankruptcy Judge Robert Kwan issued the ruling, acknowledging the tremendous work put in by Chapman University, the diocese's competitor, which offered as much as $59 million for the 40-acre Crystal Cathedral campus. The diocese will get the property for $57.5 million.
Under the diocese's plan, the ministry will be able to lease the core buildings - including the cathedral and the Tower of Hope - for three years, at $100,000 a month during the first year and $150,000 for years two and three. They also will be able to lease the school building for $10,000 a month until the end of school year 2013.
Read the full story at www.VirtueOnline.org
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