SITKA — Sheldon Jackson College has transferred a 40,000-square-foot lot in Sitka to a former college trustee to close out part of its remaining debt.
Richard Scheumann of Seattle tells the Sitka Sentinel he made several loans to the college, including one in early 2007 during the college’s final days of academic operations when it was struggling to stay afloat.
Scheumann was owed about $260,000 and he accepted the nearly one-acre lot as payment.
The land transfer was formally recorded with the state March 22.
Scheumann operated a construction business that did work around Alaska for more than 50 years.