The once-mighty Crystal Cathedral constructed in the pastorate of Robert Schuller as a landmark of twentieth-century American religious idealism will be sold as part of a plan for the Cathedral to get out of Chapter 11 bankruptcy.
The LA Times:
… faced with decreasing revenues over the last few years, the church filed for bankruptcy protection in October, saying it owed more than $50 million to creditors, including vendors who assisted in the church’s famed Christmas and Easter services….
Under the proposed plan, the 40-acre campus would be sold to a real estate investment group, which alleviates financial pressure from a $36-million mortgage, [church spokesman John] Charles said. He would not divulge the sale price or the investment group.
The church also has a guaranteed option of leasing the campus for 15 years. After four years, the church can buy back the core portions, including the 10,000-pane cathedral, the 13-story Tower of Hope, the welcome center and the cemetery.
The Cathedral’s till may be frowsy, but its PR machine is just as positive in tone as it’s ever been, and considering it’s Robert Schuller we’re talking about, that’s a tall order. Their apologia:
The plan … puts the Crystal Cathedral church and ministries on solid financial footing to launch forward with a bold new vision from Pastor Sheila to be a hands-on outreach of hope for both the local and global community, including feeding the hungry, clothing the homeless, providing resources for job searches, and so much more. We need to rise up and be the hands of Christ to help a hurting world one neighborhood at a time. Reaching future generations with the positive message of Jesus Christ requires an outreach of love. I’m excited about what God is doing now and will be doing in the future through the Crystal Cathedral Ministries.