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Foreclosure looming for Post #2626
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| VFW Post 2626, established in 1960 at 337 Cocasset St., is losing members and the ownership of the building is in jeopardy. (Photo by Frank Mortimer) |
By Frank Mortimer
A bank has put VFW Post 2626 on Cocasset Street up for mortgage auction, but the post's manager said the plan is to bring the loan payments up to date and to possibly sell the building.
Eastern Savings Bank, of Maryland, has advertised plans to mortage the post building 1 p.m. Dec. 5 at the premises, 337 Cocasset Street.
Walter "Chip" Groves, a non-member who manages the bar and rental hall and whose father is the acting commander, said he would like to discuss selling the two-story brick-front building to Foxboro Cable Access, which is seeking a new home.
Groves said the post, founded in 1960, is losing members as the World War II generation passes, and said young veterans are generally less interested in the post.
He said many veterans organizations are experiencing similar membership losses and financial problems.
Groves said the local veterans group also has a special hurdle to overcome. The post took out the mortgage eight years ago to pay a settlement to a woman who was injured in the facility's parking lot, and is having trouble making the monthly payments on that loan.
Groves said rentals for the hall are down in the slow economy, and that he has personally invested tens of thousands of dollars in the facility, which has a downstairs bar with a club alcohol license in his name.
Michael Webber, executive director of FCA, said he would be interested in hearing more about the potential sale of the VFW building.
FCA, a non-profit organization funded primarily by Comcast, has found a potential new home for lease, apart from a high school site that would require major constructio. Webber said FCA hopes to stay put in the Comcast building on Belcher Road until Comcast signs a new license with the town.
Comcast months ago notified FCA to be out of the building by Nov. 30, and more recently extended the deadline to Dec. 30.
Webber said FCA can't make responsible lease arrangements at a new location until it knows how much revenue Comcast will provide for local cable access under its new license, which it is negotiating with the town's cable tv committee.
Eastern Savings Bank, of Maryland, has advertised plans to mortage the post building 1 p.m. Dec. 5 at the premises, 337 Cocasset Street.
Walter "Chip" Groves, a non-member who manages the bar and rental hall and whose father is the acting commander, said he would like to discuss selling the two-story brick-front building to Foxboro Cable Access, which is seeking a new home.
Groves said the post, founded in 1960, is losing members as the World War II generation passes, and said young veterans are generally less interested in the post.
He said many veterans organizations are experiencing similar membership losses and financial problems.
Groves said the local veterans group also has a special hurdle to overcome. The post took out the mortgage eight years ago to pay a settlement to a woman who was injured in the facility's parking lot, and is having trouble making the monthly payments on that loan.
Groves said rentals for the hall are down in the slow economy, and that he has personally invested tens of thousands of dollars in the facility, which has a downstairs bar with a club alcohol license in his name.
Michael Webber, executive director of FCA, said he would be interested in hearing more about the potential sale of the VFW building.
FCA, a non-profit organization funded primarily by Comcast, has found a potential new home for lease, apart from a high school site that would require major constructio. Webber said FCA hopes to stay put in the Comcast building on Belcher Road until Comcast signs a new license with the town.
Comcast months ago notified FCA to be out of the building by Nov. 30, and more recently extended the deadline to Dec. 30.
Webber said FCA can't make responsible lease arrangements at a new location until it knows how much revenue Comcast will provide for local cable access under its new license, which it is negotiating with the town's cable tv committee.
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| Late rush at the polls | Legion offers helping hand to beleaguered VFW |
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