BOSTON -- In a multimillion dollar deal, Boston College will purchase 43 acres of adjoining land from the Boston Archdiocese and the archbishop's ornate mansion, church officials announced Tuesday.
Proceeds from the $99.4 million sale will be used to pay off the roughly $90 million in loans taken out by the archdiocese to settle cases with 550 victims of clergy sex abuse. "I am pleased that we were able to come to an agreement in this mater so quickly. It was very important for us as an archdiocese to clearly show how the funds for the legal settlements were raised. No money from any future sales of any parish properties or assets will be used to this end," Archbishop Sean O'Malley said.
The college also agreed to purchase the church's Lake Street Tribunal property in two years for a purchase price of $8 million.
"While I am saddened that a large piece of our Brighton campus has to be sold, it is good that the offer by Boston College was the one that we accepted at the end of the sale process, especially since we've been able to keep the property within the Catholic family," O'Malley said.
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more:
http://www.thebostonchannel.com/news/3022765/detail.htmlLooks like BC bailed out the family. :eyes: