HOLLAND, MI (WHTC) - The clock is ticking, and there’s not much time left.
This sports analogy can be used away from the field or court to describe the situation with Life Services System. The non-profit agency needs 1.3 million dollars by May 19th, or they will start clearing out their offices and Deanna’s Playhouse off of Adams Street and Country Club Road in Holland in advance of a mortgage foreclosure by Macatawa Bank a month later.
A 1.2 million-dollar annual federal grant program dried up three years ago, tossing LSS into its current financial plight, and the LSS Board held a public meeting yesterday to discuss options for saving the 26 thousand square-foot facility. A 10-dollar-per-family fundraiser at the Playhouse is slated for February 22nd, but what LSS is perhaps looking for is a philanthropic “white knight” to come in and provide enough cash to enable the group to negotiate with the Bank for preventing foreclosure.
Holland Township-based Macatawa Bank also foreclosed on the 87-year-old Holland Country Club site in 2009 over a 1.5 million-dollar mortgage; the property is now a county park and a future senior living center.