PUBLIC NOTICE
In accordance with Article I, section 16:12-13 of the revised statutes of the State of New Jersey, notice is hereby given that a Special Parish Meeting of Trinity Church, Moorestown, New Jersey will be held in the Church on Sunday, September 15, 2024 at 11:15 a.m.
The Special Parish Meeting will be held for the purpose of considering a resolution to sell the property at 214-216 West Second Street.
The Reverend Emily Mellott, Rector
Background Information:
This property, located directly behind the Trinity Preschool playground, was originally a twin house, which reportedly was purchased by Trinity to house Vietnamese refugees in the mid-1970’s. Later it was modified to serve as office space, and it has been leased by a nonprofit entity for over 30 years. It no longer has full bathrooms or a complete kitchen, and extensive renovations will be needed to return it to residential use, which is what the zoning calls for.
As was presented at the 2024 Annual Meeting, Trinity is undertaking a number of major changes this year to put the church on the path towards a more sustainable budget in future years. We projected that the changes would bring us close to a balanced budget in 2025, and one of the key assumptions was that we would sell this property and deposit the proceeds in the Trinity Endowment. Putting the money in the endowment should generate increased investment returns over time, and these returns provide a portion of our budget income. As the first step of implementing the plan, on December 12, 2023 the Vestry approved a resolution to explore the feasibility of selling the property at the end of the tenant’s lease (August 31, 2024).
At the current time the tenant has found new office space and expects to move out the first week of September. The Property Committee has completed the necessary feasibility assessment and recommends moving forward with the sale of the property now.
In the midst of the property sale feasibility analysis, the Rector and Warden entered into discussions with MEND, Inc., a nonprofit entity whose mission is to provide affordable housing to low and moderate income families in Moorestown and surrounding areas. Trinity Church was one of the founders of MEND, and we continue to have a seat on their board. MEND is supporting Trinity with the rental and property management of the church-owned house at 212 W 2nd St. (next to the Trinity Graveyard), and they have also expressed interest in purchasing and rehabilitating 214-16 W 2nd St. Selling the property to MEND is an attractive option for a number of reasons: using the property as affordable housing fits with the church’s original intention for the property, and the mission-oriented use as a non-profit rental property; MEND tenants are required to adhere to “good neighbor” standards of living, so Trinity would have assurance that the property would be maintained and not have a “problem” neighbor; and a private sale means that we would not have to pay a realtor commission. The discussions with MEND are exploratory at this time. No decisions about a private sale to MEND or a market offering can be made without vestry discussion of the guidelines for the terms of sale.
One issue that needs to be resolved before the property can be sold is the back property line, which is currently in the middle of the Preschool playground. Trinity wants to minimize the impact on the playground, so the vestry has retained a local land-use attorney to advise us on the process of subdivision and zoning board application required to change the property line. We have been advised that the zoning board may look more favorably on our application if we submit it in conjunction with MEND as the intended purchaser, and MEND is in favor of a joint application. Moorestown is keenly aware that the township needs to identify more affordable housing units, so having this property owned and under the management of MEND as affordable housing would help the township.
In the approval process for this resolution, the Vestry will be asked to establish guidelines for the sales negotiators (Rector and Wardens) to ensure that the terms of sale provide the optimal overall benefit to the church.
Resolution submitted for Approval by Trinity Vestry on September 10, 2024 and by Trinity Congregation on September 15, 2024
Resolution To Sell Trinity Church property at 214-16 W 2nd Street, Moorestown, NJ
Whereas Trinity Episcopal Church, Moorestown owns the building and property located at 214-16 W 2nd Street in Moorestown, which has been rented to a nonprofit entity for over 30 years; and
Whereas it is a financial and management burden to the congregation to respond to maintenance and other landlord responsibilities for the property; and
Whereas the congregation is looking for additional sources of capital and income to support the church’s operations and ministry; now, therefore, be it
Resolved, that the Rector, Wardens and Vestry of Trinity Church:
- Sell the building and property located at 214-16 W 2nd Street in Moorestown, in an “as-is” condition;
- Authorize the Rector and Wardens to negotiate the final terms of the sale with potential purchasers, and close the sale, providing that said terms comply with guidelines approved by the Vestry; and
- Deposit the proceeds from the sale into the Trinity Endowment Funds with no restrictions on use of the funds.