Quick update:
Based on our lawyer, Jesse, foreclosure is actually on August *17* - still
a few weeks away. Legally we should be able to repay the loan all the way
up to the actual foreclosure auction, and the very earliest that auction
can be scheduled would be September 6. So if worse comes to worst and we
lose the building, we would still have more than a month before we need to
vacate.
I guess CAST wasn't working with the correct timeline, so they've told us
they will make one final attempt at getting the recoverable grant they were
hoping to line up (essentially a 1yr bridge loan at 0% interest). It also
gives Philip Bell a bit extra time to line up the loan he's been pursuing.
Meanwhile we've had at least two other individuals expressed interest in
purchasing the building before foreclosure as well.
So yeah, all hope is not lost! But meanwhile I would urge folks at Sudo to
make contingency plans in case we do need to move out in a month. Figure
out how much space Sudo really needs, how much rent you can afford, and
which other organizations you might want to team up with in case you find a
building too large for Sudo alone. CCL is already actively looking for
candidate spaces - mainly on loopnet, but there should be deals available
on CraigsList and through word of mouth as well. Help wanted!
Patrik
On Thu, Aug 1, 2024 at 6:17 PM Bryan Raab via sudo-discuss <
sudo-discuss(a)sudoroom.org> wrote:
As someone fairly out of the loop on what’s going on
is there something
I’ve missed that can catch me up?
Like what is the next step of Sudo?
Please andThanks,
Bryan Raab
7073679223
On Jul 30, 2024, at 3:33 PM, Peter Mui via sudo-discuss <
sudo-discuss(a)sudoroom.org> wrote:
Hi Sudoers:
Foreclosure is six days away: if you have any questions about
transitioning out of the building you’re welcome to attend a Zoom Meeting
6PM Tonight with Shreya from CAST. Please email me back directly for the
Zoom link ASAP, certainly before 6PM.
Sincerely, -Peter
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