This is the archdiocese's first major sale to pay for sex abuse settlement
The Roman Catholic Archdiocese of Los Angeles has sold its 12-story administrative headquarters building to help pay last year's $660 million settlement with people alleging sex abuse by clergy, a spokesman said Tuesday.
The Archdiocesan Catholic Center was sold to Jamison Properties of Los Angeles for $31 million, archdiocese spokesman Tod Tamberg said.
First major sale to pay for settlement
The Roman Catholic Archdiocese of Los Angeles has sold its 12-story administrative headquarters building to help pay last year's $660 million settlement with people alleging sex abuse by clergy, a spokesman said Tuesday.
The Archdiocesan Catholic Center was sold to Jamison Properties of Los Angeles for $31 million, archdiocese spokesman Tod Tamberg said.
First major sale to pay for settlement
Cardinal Roger Mahony announced last year that the archdiocese would sell the Catholic Center and other church properties to raise money to settle hundreds of sexual abuse lawsuits. Church officials had identified about 50 other nonessential properties that could be sold to fund settlements.
The deal reached last year with sexual abuse plaintiffs settled all 508 cases that remained against the archdiocese, which also paid $60 million in 2006 to settle 45 cases that weren't covered by sexual abuse insurance.
The Catholic Center is the archdiocese's first major sale aimed specifically at paying for the settlement, Tamberg said.
[Good riddance! I can’t say that I am a bit sad.]
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