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Committee rejects $325,000 offer on Beaver Dam office, counters at $450,000; shelter property denied coverage and sold
Summary
The EPF&A Committee unanimously voted to reject a $325,000 offer on the Beaver Dam office and to counter at $450,000; separately, an insurance appeal for water damage at the Men's Shelter house was denied and that property was sold for $75,000. Necedah property sale and pending offer were also reported.
During its April 10 meeting, the EPF&A Committee discussed multiple property matters. The committee unanimously voted to reject a $325,000 offer on the Beaver Dam office building and approved a counteroffer of $450,000 to be presented to the full board for approval.
Fred Hebert reported the agency appealed an insurer's decision denying coverage for water damage at the Men's Shelter house at 407 Beaver Street in Beaver Dam; the insurer again denied coverage citing the house had been vacant too long. The Men's Shelter house has since been sold for $75,000.
Hebert also reported that the Necedah single-family house at 513 Oak Grove Drive sold for $319,000 and that 511 Oak Grove Drive is listed with an offer pending.
The committee's decision on the Beaver Dam counteroffer will be forwarded to the full Board of Directors for a final decision.
