Church sold for $10.5M, unclear where congregation will go
LEXINGTON, Ky. (AP) — It’s unclear where hundreds of people will worship after years of legal disagreements led to a Kentucky church being sold for $10.5 million to its lender.
Imani Baptist Church pastor Willis Polk tells the Lexington Herald-Leader that he chose “to vacate immediately” after the building which housed his congregation since 2008 was auctioned to Central Bank on Monday.
Central Bank made the sole bid at the sale held by Fayette Master Commissioner James Frazier. The structure was appraised for $12 million, and has a cafe and exercise rooms over more than 20 acres (8 hectares).
Imani insisted it had been the victim of a poorly structured deal. Central said in court records that it was trying to stop helping the church work through financial issues which put it in default.
Information from: Lexington Herald-Leader, http://www.kentucky.com