Thanks in part to support from the church’s congregation and new interest rates, Madison Park Church of God is moving forward, Spaulding said.
“We certainly held our own and have been very stable through all of this,” he said. “But this really gives us a very stable platform for us to move forward. We were very blessed.”
Church officials say plans to sell about 100 acres surrounding the property have not changed.
Spaulding said a senior housing group will be developing about 16 acres in the near future and eventually the church would like to see new retail outlets in the area.
Spaulding will continue to submit reports to the U.S. Bankruptcy Court in Indianapolis, which is monitoring transactions for the next few months, but the legal proceedings are over, he said.
“That’s a big hurdle to get over,” Whitmoyer said.
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More information The Madison Park Church is affiliated with the Church of God movement. The Church of God is headquartered in Anderson and was established here in the early 1800s. In 1917, the Church of God established Anderson College. Today, the organization has an international scope. Source: www.madisonparkchurch.org and Madison County Indiana Chamber of Commerce