IS TWMP BUYING THE BUILDING AT 26 S 3RD STREET?
Yes, the TWMP Board of Directors (BOD) is pursuing the acquisition of the building. The
BOD has submitted a proposed contract to the Town of Warrenton (Town) who owns the
Property and the Town Council has tentatively approved a sale of the Property to
WHY IS THE BOD TAKING THIS ACTION?
The mission of The Warrenton Meeting Place is to provide a safe and clean meeting
space dedicated solely for the use of 12 Step recovery programs.The Town recently
purchased a building for the new Town Hall. Given that purchase, the Town is looking to
raise funds by selling a number of assets they own. The BOD proactively entered discussions
with the Town on buying the TWMP building in accordance with our mission of
ensuring a long term home for recovery meetings.
WHAT HAPPENS IF TWMP DOES NOT BUY THE BUILDING?
Our current lease expires in 2022. However a clause in the lease allows the Town to
terminate the lease earlier for just cause or convenience. In the event the building was
sold to another organization or investor there is no guarantee the new owner would negotiate
a new lease to allow TWMP to continue to occupy the building on a long term
basis and on the same rental terms. In fact, given the downtown location of the building,
it is safe to assume a new buyer would look to leverage it for commercial purposes, not
as a facility for recovery in Warrenton.
HOW SOON COULD THE BUILDING BE SOLD ?
The contract being negotiated requires a $5,000 deposit at contract signing, which is
refundable during a 60 day due diligence period.If due diligence on the building is acceptable,
then a $10,000 deposit would be posted which is refundable for a period of
time only for certain contingencies such as fundraising success and Seller commitments.
We expect the contract to be signed in July 2020 and a potential settlement on
the real estate before year end.
HOW IS THE BOD GOING TO PAY FOR THE PURCHASE?
Our current funds can pay for the $5,000 deposit. After that the TWMP fund balance will
require additional outside contributions. The BOD is setting up a capital funding campaign
in the Warrenton 12 Step Community for this purpose.
WHO CAN CONTRIBUTE TO THE CAPITAL FUND CAMPAIGN?
In keeping with our current donation policy we are focusing on individual contributions
from current 12 Step group members. There are also options for contributions from local
charitable foundations who provide grants to nonprofit organizations like TWMP. In no
case is the BOD looking to solicit or receive funding from outside commercial organizations.
WHAT IS THE FUNDING GOAL FOR THE CAPITAL CAMPAIGN?
Our capital campaign goal is to raise $350,000. In addition to the building purchase
price, there will be real estate expenses for title surveys, legal advice, building inspections
and fees. Once TWMP is the building owner there will also be expenses we do not
pay now including taxes, utilities and building maintenance and repairs. There are also
capital improvements related to handicapped access, safety and other improvements
we hope to make to the facility. We are looking to the capital campaign to provide
enough funding to allow us to pay for the building purchase, the first year of operation
expenses, necessary repairs and capital improvements. A comprehensive budget for
this will be provided when complete.
The situation is complicated with the on going COVID pandemic. We are only now reopening
for meetings. Since TWMP has been closed we have not received any income
from group meetings. We also expect meeting attendance to be down for some time.
The only operating income we receive is from group meeting contributions, which has
been and will be affected by the COVID response.
WHAT CAN INDIVIDUAL 12 STEP GROUPS AND MEMBERS DO TO HELP?
Please be as generous as you can in supporting both the capital funding campaign and
in 7th Tradition contributions for meetings at TWMP. All capital campaign contributions
are tax deductible to the full extent of the law. Since our founding in 2012 TWMP has
provided a safe, clean and dedicated space for many 12 Step Groups to meet. If you
value having a dedicated facility for 12 Step meetings please help TWMP meet this new
challenge and ensure our long term future supporting recovery in the Warrenton area.