The typical Church of God method in selling real estate/church property at a discount continues. Wise investing has never been a strong point in Armstrongism. From the Festival sites built across the United States, to properties in Vail, Lake Tahoe, Oregon, England, Texas and Pasadena, every one was sold at a substantial loss. That tradition continues on in the United Church of God.
Back in January 2008 it was revealed that the United Church of God had bought 81.5 acres of pasture land in Denton Texas where they had hoped to move their "international" headquarters and build a future campus to rival Pasadena and Big Sandy.
See: World Exclusive: Photos of UCG Denton HQ Property!
Visions of a college campus and sugarplums danced in their heads. Though that dancing soon lead to major issues in the church. Many were vocally against it. So much so that eventually the church split over it along with other administrative matters.
This all led to COGWA forming where it was the same faces doing the same shit but with a new name.
See: COGWA's Good Old Boys Network
UCG dumped millions of dollars in tithe money that members struggled to send in for this property, Less than two years later in August of 2009 Clyde Kilough made the decision to dump the property in order recoup its money. COGWA was reportedly interested in it though it was to be made clear that they would NEVER be allowed to have it.
See: Council of elders Meeting Announcing Sale of Property
See: UCG Headquarters Is For Sale
Sale of Denton, Texas, Property Final
Its nice to know that God delayed the selling of the property for 6 years in order for them to sell it in 2015. God's hand must surely have been on the sale. While Christians are being slaughtered in Syria, Iraq and Pakistan, children are starving in Africa and Ebola is killing thousands, God is more concerned about selling the Denton property. Such comforting news.It is with great pleasure that we announce to you the sale of the Denton, Texas, property that the Church has owned for some time.
The sale of the 81-acre property was finalized yesterday, February 10, 2015, to a Texas-based land speculation company. The Church purchased the property at the height of the real estate market in January 2008. While the land was sold at a loss from the amount paid at that time (before the decline in real estate prices), our agents, the Council and the Administration are satisfied that the amount received was fair market value and that it was not reasonable in the foreseeable future to expect a higher purchase price.
We thank God for His mercy in allowing this land to be sold. We seek His will about how the proceeds should be used in doing His Work.
Victor Kubik, President
Rick Shabi, Treasurer
With UCG's epic financial failure at the end of last year with it's failed campaign to this financial loss, the golden apple that UCG always loved to hold forth is rotting at the core now.