Relocation Update

We have been very busy this month researching the property at 8805 NE Glisan, thanks to those of you who have offered feedback on the property. Here’s where we are currently….

• We are exploring a relationship with Beneficial State Bank (previously Albina Community Bank) – they are reviewing our financial status and have responded positively thus far with our finances. We are also preparing a financial report and projection for the Shambhala International Treasury Council, which needs to review and give approval for any building purchase.
• We have initiated a permit review with the City of Portland in order to clarify the zoning/conditional use status of the facility, as well as necessary work that would be required for us to inhabit the facility.
• We are reaching out to a Realtor to work with us on researching this property.
• We are planning a fundraising campaign to launch in June. Stay tuned!

 

As part of our community involvement process, we will soon schedule some community meetings in which you will be invited to view and provide feedback on the Glisan property. Please note that we will not make any recommendations to purchase this facility, or any facility, until we have allowed our Shambhala community a thorough opportunity to view and give feedback.

Another important piece of information that we received this past week from our landlord:

• Our current facility (1110 SE Alder) will go back on the market this fall.
• In anticipation of a sale, the landlord will be raising rents on all the tenants in the building. He anticipates that our rent will go up by $1000 per month. He will give us 90 days advance notice before this happens.
• He asked if we were interested in purchasing the building, and offered a discounted rate for us to purchase. Since the discounted rate is still well beyond our community’s financial means, we declined his offer.

 

We continue to be grateful for you good wishes and ideas, and will continue to keep you posted as things develop. Please let Mark Douglass or one of the team members know if you have ideas, or would like to contribute time to working on this team! Thank you,