March 26, 2005

SAU to consider buying St. Vincent Center from diocese

The Dispatch

By Whitney Carnahan,

A possible purchase of the Davenport Diocese's St. Vincent Center at 2706 N. Gaines St. could offer St. Ambrose University room to grow and the Catholic diocese cash to help pay judgments from sex-abuse lawsuits.

The diocese asked SAU to consider buying the 50-acre parcel for campus expansion last fall, after the diocese agreed Oct. 28 to pay $9 million to 37 individuals who accused clergy of sexual abuse.

"This is a follow-up to an earlier inquiry," said Bishop William Franklin, who also is president of the SAU board of directors. SAU is affiliated with the diocese.

The St. Vincent Center serves as headquarters for the diocese. An additional 10 acres on the site is leased to the Sisters of Humility and would not be included in the purchase.

The preliminary appraisal of the parcel performed for the diocese valued the property at $4.55 million.

Posted by kshaw at March 26, 2005 03:31 AM