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Tuesday, March 03, 2009

Morris Brown building auctioned to pay debt

Morris Brown College was unable to keep one of its buildings off the auction block Tuesday.

Jordan Hall was sold for $900,000 in a foreclosure sale on the steps of the Fulton County courthouse. The proceeds from the sale will be deducted from the college's $13.1 construction loan debt for the building.

Jordan Hall houses classrooms and an art gallery and had twice before been scheduled for auction in January and February.

It is the latest in the school's setbacks as it struggles to emerge from $30 million in debt. Last month, Morris Brown was granted an extension on $214,000 in overdue water bills.

Supporters say the sale will not close Morris Brown. Dorms will remain open and students and faculty will continue to report to classes.


The building was sold Tuesday for $900,000 in a foreclosure sale on the steps of the Fulton County courthouse.

The proceeds will be deducted from the college's debt from a $13.1 million construction loan for the building.

Jordan Hall houses classrooms and an art gallery and had twice before been scheduled for auction in January and February.

It is the latest in the school's setbacks as it struggles to emerge from $30 million in debt. Last month, Morris Brown was granted an extension on $214,000 in overdue water bills.

Supporters say the sale will not close Morris Brown. Dorms will remain open and students and faculty will continue to report to classes.

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