posted by Joe Polk at 1:47 PM /
Senior care provider Concordia Lutheran Ministries of Cabot in Butler County finalized its $15 million purchase of a Mt. Lebanon retirement community and plans to make between $300,000 and $400,000 worth of improvements, a Concordia executive said Monday.
Concordia Lutheran, which bought Covenant at South Hills at a bankruptcy court auction in September, expects to make updates such as new carpeting, painting and new equipment to the seven-year-old facility, said Keith Frndak, CEO of the nonprofit.
Link: www.pittsburghlive.com/x/pittsburghtrib/business/s_649956.html
Concordia Lutheran, which bought Covenant at South Hills at a bankruptcy court auction in September, expects to make updates such as new carpeting, painting and new equipment to the seven-year-old facility, said Keith Frndak, CEO of the nonprofit.
Link: www.pittsburghlive.com/x/pittsburghtrib/business/s_649956.html
1 Comments:
Does anybody know if the multi year tax-setting Agreement that apparently occured in 2008 between the Covenant and the Muni., School District and Allegheny County survived the bankruptcy and purchase by Concordia ?
I believe these taxing bodies will receive a total of some $3 million in back and current taxes out of Concordia's $15 million purchase, but the future taxes would be several times that cumulatively out to 2014.
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