[jyl]

Yes, the commercial (venue rental) use of the property shut down in March due to Covid. The non profit has been carrying the property with no revenue for six months. I think we’d have to plan on the venue rental business remaining infeasible for another six months (to Mar 2021) or even nine months (to Jun 2021).

We could use it for our own neighborhood association purposes during that period - as a community center - even if there aren’t actually many (any?) people going there for the near future, given Covid restrictions (indoor gatherings of more than X people are prohibited here, though restaurants may operate with severe capacity restrictions). The bare minimum operating cost should then be not much more than utilities and property insurance, and light maintenance/cleaning. I’m going to guess $1K/mo. That wouldn’t cover any capital needs (new roof etc) but the property is very unlikely to need such in the coming year or two, from what we know. As a 501c3 non profit entity ourselves, as long as we don’t conduct any commercial business there, we should qualify for a property tax exemption. So I’m thinking we would be able to carry the building, without needing to generate revenue from it, for as long as Covid restrictions are reasonably likely to last.

The question is, then what.