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Big Anderson church files for Chapter 11 bankruptcy

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The Madison Park Church of God in Anderson has filed for Chapter 11 bankruptcy reorganization, saying it was the victim of the recession and the closing of a General Motors Co. plant.

The church, originally known as North Anderson Church of God and located on Scatterfield Road, bought a 200-acre site near Interstate 69 in 2007 and built a church there using three bridge loans. One $6 million loan matured in July 12 and couldn’t be repaid because the church was unable to sell some of the real estate.

The bankruptcy petition, filed July 12 in Indianapolis, lists assets of less than $10 million and debt exceeding $10 million.

Madison Park Church is looking for a pastor, according to its website. In April, Jim Lyon had been the church's pastor for 22 years, said he was stepping down to become the general director-designate of the Anderson-based Church of God Ministries, which has 2,200 congregations around North America.

The Herald Bulletin of Anderson said about 3,000 families attend Madison Park Church.

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  • church
    any development would have been for senior housing, missionary housing, etc. all NON-profit stuff for the betterment of Anderson, not commercial for profit ventures.
  • Taxes
    I have long held the position that the newer churches (or, mega-churches) are a business rather than a place of worship. They should either forego their tax-exempt status OR, at an absolute minimum, only be property-tax-exempt for the church itself. In the instant situation, the 199 acres for parking, playgrounds, miscellaneous, should all be subject to property taxes, zoned residential in most situations. I am more than a little tired of seeing 25+ acres church sites popping up all over Fishers and Carmel in what should be residential areas, and we taxpayers have to pick up the difference in taxes...
    • Right On
      Well said Ben. I agree, tax the churches.
    • Tax The Churches
      As long as we're on the subject, tax the churches. There is good money in the God business. And yes, it is a business. Why do my employees and company pay taxes on the service we provide? Look at the materials of construction used in a church. While our houses are made of siding, they would be made of brick and limestone too if we didn't pay taxes. Tax them. And let them use siding our their houses too.
    • Pay Your Debtors
      One or more banks is going to take it on the chin because they took a flier on a speculative real estate deal. What church needs 200 acres and why? The banks deserve to lose thier shirts and the church should be embarrased for getting into something they know nothing about. I beleive the bible says to pay your debts.

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    1. I am so impressed that the smoking ban FAILED in Kokomo! I might just move to your Awesome city!

    2. way to much breweries being built in indianapolis. its going to be saturated market, if not already. when is enough, enough??

    3. This house is a reminder of Hamilton County history. Its position near the interstate is significant to remember what Hamilton County was before the SUPERBROKERs, Navients, commercial parks, sprawling vinyl villages, and acres of concrete retail showed up. What's truly Wasteful is not reusing a structure that could still be useful. History isn't confined to parks and books.

    4. To compare Connor Prairie or the Zoo to a random old house is a big ridiculous. If it were any where near the level of significance there wouldn't be a major funding gap. Put a big billboard on I-69 funded by the tourism board for people to come visit this old house, and I doubt there would be any takers, since other than age there is no significance whatsoever. Clearly the tax payers of Fishers don't have a significant interest in this project, so PLEASE DON'T USE OUR VALUABLE MONEY. Government money is finite and needs to be utilized for the most efficient and productive purposes. This is far from that.

    5. I only tried it 2x and didn't think much of it both times. With the new apts plus a couple other of new developments on Guilford, I am surprised it didn't get more business. Plus you have a couple of subdivisions across the street from it. I hope Upland can keep it going. Good beer and food plus a neat environment and outdoor seating.

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