Strategy 2–Prepare to Sell Portions of Presbyterian Camps
The PRTF will explore the sale, at highest value, of portions of Presbyterian Camps for debt retirement. The camp was appraised in February 2009 at a value of $14.3 million. The appraiser assures PRTF that despite the declining real estate market, this is a current value because of the uniqueness of the property. The appraisal also noted that the camp property could be divided into three sections, two of which are not used for the actual camping program. These two parcels together are worth $1.3 million. The third parcel would allow continuation of the camping program. Note: “exploring the possibility of a sale” and “recommending a sale” are separate matters. At this time the PRTF is exploring this option.
