# LCMS Convention Proceedings_St. Louis Missouri_1953_S171
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

SEMINARIES AND COLLEGES 171

I .known that the majority of these brethren do not have
it: income, during their period of service, to enable them
e housing at regular terms. Since they are required to
synodical housing, on campus, during their tenure, they
unable to make any housing provision for the retirement,
ynod has made compulsory.
‘Synod intends to continue its retirement policy for faculty
el, it will wish to modify its housing policy accordingly,
.do so at an early date, since the present arrangement of
such housing did not contemplate retirements and since
the past triennium or any succeeding trienniums only serves
savate the problem.
- already: too late to make provisions which would affect
‘members who are scheduled to retire in the early future,
ney have had sources of income beyond the synodical
owever, not a few younger men have made urgent appli-
r such arrangements as appear to provide the logical
‘the problem for Synod and for the personnel involved.
nce Synod is confronted with the fact that its present in-
ats in off-campus housing bring no cash return, but are
ject to taxation, extensive remodeling and maintenance
es, and possible loss by fire; and since its system of
ng faculty housing and paying correspondingly low salaries
ecific obligations when it compels faculty members to
is felt that further attempts to achieve a satisfactory

selling existing or other off-campus housing to faculty
ts'should be developed.

4
e,

arrangements, through no fault of their own, are
‘to: buy the homes. To achieve its objectives, indeed, to
sible at all, the plan must provide for a much smaller
ment than commercial plans require, a nominal interest
g balances, and a long-term contract. The contract
9 contain clauses which enable Synod to recover the
to. have first refusal of any sale contract in the event
lupants accept calls, or in the event that they or their
to sell the property for any reason.
is in a position to provide all of these benefits, without
e to herself, since, under present plans she has not
investment of more than half a million dollars, but
‘expenditure to maintain and improve the properties,
easibility of such a plan is well established by the expe-

AG