Archdiocese bankruptcy judge OKs sale of Twin Cities chancery
A federal bankruptcy judge Thursday approved the sale of the Archdiocese of St. Paul and Minneapolis chancery for nearly $3.3 million.
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Other than providing a company name, the archdiocese would not offer details about the winning bidder. State corporate records indicate the high bid came from a private firm managed by the chairman of a banking company based in Maplewood.
The sale of the archdiocese headquarters and archbishop's residence on Summit Avenue brings total church property sales to more than $8 million.
The judge also approved an archdiocese request to lease office space on St. Paul's east side in the one-time headquarters of 3M. It's unclear where the archbishop will reside. Archdiocese attorneys said that issue does not have to be resolved before the end of November.
Church lawyers said property sales proceeds go into an account that can't be accessed without a court order.
The attorneys said they expect to file a plan of reorganization before May 31. Until then only the archdiocese can file a plan. A plan is expected to include compensation for sex abuse victims and a financial roadmap for the continued operation of the archdiocese.