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Refinancing

November 2021

With the existing mortgage note through Atlantic Union Bank due for refinancing in 2024, and with interest rates at historic lows, the Board decided to refinance the outstanding $350,000 loan taken out in 2013. Thanks to the efforts of Treasurer Troy Knowlton ’92, Pete Skelly ’05, and Patrick Higgins ’10, we were able to get an attractive 3.75% rate on a 10-year note through the Bank of Clark County in northern Virginia. This frees up some funds for operating and maintenance expenses.