Invest Atlanta, the City of Atlanta’s economic
development agency, and Friendship Baptist Church have made a bid to purchase
Morris Brown College, which is going through bankruptcy proceedings.
Invest Atlanta is contributing $9 million to the bid, while Friendship Baptist is contributing $3.625 million.
The combined $12.6 million offer to buy out almost the entire 37-acre Morris Brown campus would allow the historic black college in west Atlanta to retain its existing buildings.
The school, which was founded in 1881 by former slaves, filed for bankruptcy two years ago and has previously rejected two offers, including a $10 million offer from the city.
Friendship Baptist, which sold its property to help allow the new Atlanta Falcons stadium to be constructed, would build a new church somewhere on the college campus.
Atlanta Mayor Kasim Reed has issued the following statement on bid:
“The bid by Invest Atlanta and Friendship Baptist Church for some of the Morris Brown College campus creates a unique opportunity for these parties to hold a critical stake in the future development of this important corridor and secure a stronger, healthier future for this historic educational institution. Our partnership with Friendship Baptist Church also ensures that a respected and historic institution is actively engaged in bringing positive community development and neighborhood revitalization to the West Side and the MLK corridor. If we succeed in this bid, it will bring much-needed stability and cohesiveness to these communities as we embark on a determined effort to spur job creation, civic engagement and business investment to the historic neighborhoods of Vine City and English Avenue.”