Narthex One Newsletter – Q3 2024
Moving forward with a new fund
A message from Rob Boyer, CEO
Happy Fall, everyone!
I'm thrilled to announce the launch of our latest fund, The Narthex Impact Fund, in partnership with the Impact Foundation. If you have a donor-advised fund or are interested in a charitable investment, I would love to discuss continuing the journey with us. We also have two new acquisitions in the pipeline, which represent the first two purchases for the new fund.
You might recall that Narthex One owns a residential lot across the street from Grace Paseo. This lot was gifted to us by Grace Baptist, and I'm happy to share that we have gifted it to Habitat for Humanity. I'm pleased we can support Habitat's work and look forward to welcoming a family into their new home!
Grace Paseo is under contract to sell for $1.3 million, but I'm not holding my breath. The buyer came out strong but has wavered in recent weeks, and it feels like a deal that will collapse. However it goes, we remain committed to selling Grace Paseo and Cornerstone as a top priority.
Our battle with Johnson County over the property tax at Mission Southside continues. The Kansas Board of Tax Appeals offered us some relief, but the church is still 20% above the fair market value. We've taken two actions: first, we fired the company that represented us in the first appeal, and second, we are appealing again. More will follow in the coming weeks.
Thank you, as always, for your trust in us and for the joy of being in this together! Don’t hesitate to contact me with questions. Peace.
Spiritual impact
We were sad to say goodbye to Bellicose Church last month. They moved into Grace Paseo in 2019 after a greedy landlord evicted them. They were grateful to find us. Now, five years later, they have doubled in size and outgrown the facility. This quarter, we pause to celebrate God at work in their ministry and the role that Narthex can play as a partner. Pastor Josh sent this last week, "Narthex was an absolute joy to work with. The fact that they are for the church is such a breath of fresh air. We thoroughly enjoyed leasing from Narthex: they were professional, relational, responsive, and kind." We wish Bellicose all the best!
