If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!

When the Catholic Archdiocese of Boston became embroiled in their clergy sex scandal, the restitution payments to their victims stressed the treasury of the church. Now as a way to raise money to pay the families of the victims the Diocese has sold off their former headquarters buildings and land for nearly 400 million dollars.

The sale of properties are occurring across the country by the Catholic Church as they make restitution to families who were devastated after clergy were caught molesting their children. The only good that will come of it is that Boston College will get a great property to help educate children in the future.

For nearly six years, Boston-area Catholics have asked what good, if any, could come of the devastating clergy sexual abuse crisis that began there. Today, Boston College announced its $400 million answer.
That’s how much the school intends to spend to develop 65 acres and 14 buildings acquired in deals with a cash-strapped and scandal-weary Archdiocese of Boston. The archdiocese got $172 million from the sale, more than enough cash to finance its $84 million settlement with abuse victims; the college got a key parcel for advancing a $1.6 billion, 10-year strategic plan to be announced Wednesday.  via  USATODAY.com.

Related posts:

1. Selling Churches - When Getting Folks Into the Pews Fails, Selling The Property is Almost as Hard
2. Trinity Place Penthouse Asks 15 Million to Break Boston Condo Price Record
3. Barat College Campus Closed : DePaul sells to Developer for Condo Complex
4. Flatley Sells Properties to Wilder Cos. and O’Connor Capital Partners
5. Boston Housing Bubble Bursting? And is that bad?