NASHVILLE, Tenn. (BP) -- The potential sale of LifeWay Glorieta Conference Center has turned from the Baptist Convention of New Mexico to a California-based Christian school, Olivet University.
The BCNM's Glorieta Task Force has notified LifeWay Christian Resources that it is not feasible for the state convention to assume ownership of Glorieta, even for the $1 price LifeWay had set forth for the 2,100-acre site near Santa Fe.
LifeWay, meanwhile, has stated that it is considering a sale to Olivet contingent on a "comprehensive review of the theological compatibility" of LifeWay and Olivet.
BCNM executive board chairman Lamar Morin, pastor of First Baptist Church in Bloomfield, confirmed to Baptist Press in a July 16 statement that ownership and responsibility for Glorieta would not be financially feasible for New Mexico Baptists.
"The BCNM Glorieta Task Force believed any prudent business plan would include an environmental study and indemnification by LifeWay for any environmental problems that might be discovered," Morin said.
"Based on its inspection of the property, the task force determined that a viable business plan needed to include deferred maintenance of $10 million to $20 million."
Morin said when LifeWay advised the BCNM it "could not indemnify the state convention as requested, the task force could not proceed any further."
Morin acknowledged the "deep love and devotion New Mexico Baptists" have for Glorieta but said the task force "recognized, despite multiple suggestions, there was no offer of financial resources by any person or organization to cover the enormous costs and potential liabilities of assuming such a large property." Read More