LifeWay Christian Resources has “decided not to go forward” with the sale of its Glorieta Conference Center to Olivet University, a San Francisco-based school.
LifeWay, in announcing its decision Oct. 17, cited a study by National Association of Evangelicals (NAE) representatives. Olivet had agreed to the inquiry, which focused on the theological compatibility between LifeWay, a Southern Baptist entity, and Olivet, a school with ties to Korean Christian leader David Jang.
“LifeWay Christian Resources has reviewed the report from the National Association of Evangelicals, and decided not to go forward with the sale of Glorieta Conference Center to Olivet University,” LifeWay said in a statement. “We are appreciative of our relationship with Olivet’s leadership and indebted to NAE for their thorough work. We will now renew our pursuit of viable options for the sale of the property.”
Olivet’s current president, former Southern Baptist missionary and seminary professor Bill Wagner, released a statement saying Olivet intends to discuss the report with LifeWay leaders in hopes of reviving the deal.
Olivet has already failed in bids to purchase Bethany University in Scotts Valley, Calif., and a 217-acre campus in Northfield, Mass.
LifeWay also has had problems selling its 2,100-acre encampment near Santa Fe, N.M., that has lost money 24 of the last 25 years. In July, the Baptist Convention of New Mexico turned down an offer to purchase Glorieta for $1, after a study committee failed to come up with a viable business plan to operate the conference center as a ministry.
The New Mexico task force estimated deferred maintenance of the conference center opened in 1952 would cost $10 million to $20 million and that any prudent business plan would include an environmental study. New Mexico Baptists asked LifeWay to indemnify the Baptist Convention of New Mexico for any environmental liability and litigation liability. LifeWay declined and the deal was off.
(BP)
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