The payment means that Grace will relinquish any property claims to HPPC’s campus on University Boulevard, which had been in dispute since members of the 88-year-old church voted to leave its national governing body for a more conservative denomination. Church officials said the land is valued at about $70 million.
After HPPC filed suit last fall, the two sides had been engaged in mediation talks, presided over by former federal judge Jeff Kaplan.
“A church like ours is so much more than a building or an institution. It’s a community of people centered in Jesus and sent into mission,” HPPC senior pastor Bryan Dunagan said in a statement. “Our church property is important as a training ground and center of transformation in our ongoing ministry. By being good stewards of the property entrusted to us, we will continue to honor our calling to make disciples of Jesus Christ in our community and throughout the world.”