This is true. If Sudoroom can stay current on
monthly payments that's
a huge help.
Our
old loan is coming due December 1 with a balloon payment of
$900k.
We have applied for a new loan, have not been rejected but
are still
negotiating. We are trying to improve our cashflow as
much as possible
to be in a better position, by hosting more
ballroom events, adding
more tenants, applying for grants, and
are about to launch a big
gofundme campaign as well. Nothing is
guaranteed right now, but we're
going to try our
best.
Btw her name is Imma, and she's Omni's
treasurer, which is different
from being a board
member.
On Thu, Jul 14, 2022 at 10:30 PM
Andrew R Gross via sudo-discuss
You should talk to Ima (sp?) or someone
else on the board. What I understood from a conversation is that Omni is
behind on the mortgage and needs to demonstrate sustainable income
sufficient to reliably pay off the mortgage each month to the bank by the
end of the year or the bank will foreclose. I don't know the details, but
the general impression I got was that if Sudo can generate $2k a month each
month starting soon and keep doing it, we'll be at least fulfilling our
role.
Andrew R Gross, (he/him)
How close
are we to losing the Omni ?
_______________________________________________
_______________________________________________
_______________________________________________