Charles Street AME Church Agrees to Sell Community Center
Boston based Charles Street African Methodist Episcopal Church has agreed to sell the Roxbury Renaissance Center in order to pay back the nearly $5 million it owes creditors including OneUnited Bank and emerge from bankruptcy. The church already has an offer from a local non-profit to buy the community center for $2 million. OneUnited said the proposition, which would leave OneUnited Bank with a $900,000 loss, still falls short of meeting the church’s obligations. “The bank believes that the proposed sale of certain assets does not maximize value to creditors,” OneUnited said in a statement. The bank warned litigation could be an option.