Video from Morris Brown College's response to the pending foreclosure and how they plan to avoid it, Aug. 25th
The Historical Black College of over 130 years, Morris Brown College, has battled through financial problems the past 10 years but now has been given an impending Foreclosure Notice.
Reports have surfaced stating that one of the school's creditors is calling their $13 million loan due, and that the college can not pay it. This has forced a possible foreclosure on the property owned by the school, with a sale date quickly approaching of September 4th, according to Atlanta Business Chronicle.
If you recall, it was just a year ago that Cascade Patch reported that Cascade UMC donated the school $22,000 to help satisfy the school's $500K debt to the U.S. Department of Education. Dr. Pritchett of Morris Brown College confirmed at the time that, "[The check] helps us to insure that the future is stable for Morris Brown Colored College and all of our HBCU institutions."
That was just August of 2011, and along with the $22,000 from Cascade UMC the school was able to raise and payback roughly $480K by asking alumni, sponsoring events, bake sales, etc.
Was it all for naught? What will be the future of one of the most historical colleges in America?
On Saturday, August 25 at 1 p.m., Dr. Preston W. Williams II, Chairman of the Board of Trustees of Morris Brown College, will announce the College’s formal response to the Notice of Foreclosure which has resulted in the impending sale of the property of Morris Brown College.
The response of the Morris Brown College Board of Trustees to the Notice of Foreclosure and impending property sale will be delivered during Morris Brown College’s National Day of Prayer this Saturday, August 25, at 1 p.m.
Supporters of Morris Brown College will gather at the John H. Lewis Health & Physical Education Complex on Morris Brown’s campus located at 643 Martin Luther King Jr. Drive in Atlanta, GA 30314.