Hugh’s Room Live Fundraising Campaign

Hugh’s Room Live has launched a campaign to raise $2.5M to retire three mortgages as they fall due. They financed the purchase of 296 Broadview Avenue last year. Our primary focus is on the first mortgage, due on September 30 this year  for $1.3M, which we plan to discharge through a combination of community bond purchases (up to $1.3M, secured by a new first mortgage) and donations.

Coincidentally we raised exactly this amount through the sale of community bonds (secured by a second mortgage) from generous friends of HRL last year to help purchase the building.

We plan to retire the other two mortgages through donations.  We raised donations of about $600K last year.  They made it possible to purchase the building.  Now we are setting an ambitious goal of at least $1.2M in donations to replace the rest of the mortgage debt that our Hugh’s Bonds don’t cover.