Archive for Friday, October 27, 1995

HOUSE DONATED FOR DRAWING

October 27, 1995

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Feel lucky? For a $100 donation, you could have a one-in-1,500 shot at winning a new home in west Lawrence.

In the past, there have been televisions, furniture, trips and even cars donated for the annual St. John School Benefit Auction.

But this is the first time in the auction's 12-year history that a new house in west Lawrence will be part of the Catholic school's annual fund-raising project.

"I was overwhelmed," Mary Cornwell, this year's auction chair, said Thursday. "This is just taking us up to another level, we hope."

Frank and Sally Salb, who have been in the home construction business since 1987, have put up a three-bedroom, two-bath house at 913 Lexington in Colonial Place in the West Alvamar area.

The home -- priced at $112,750 -- will will go to the lucky winner of a drawing that will be held at the benefit auction on Nov. 19.

"We've talked about doing something like this for several years," said Frank Salb, a member of Corpus Christi Catholic Church. "This was one of our better quality houses, and it hadn't sold yet."

A maximum of 1,500 shares are available for the drawing, with the requested contribution being $100 a share.

When all available shares are issued, each shareholder has a one-in-1,500 chance of winning the home.

"A person can invest $100 and get a new house," Salb said. "The odds are real good when you compare it with the Lotto."

Salb said if all the shares are sold, the school has the potential of receiving about $50,000.

"The Salbs are making a very generous donation," Cornwell said Thursday. "I've got people coming in buying these shares as we speak."

Cornwell said the availability of shares and the drawing will be monitored by Mercantile Bank of Lawrence Trust Department.

Requests for shares must be received in the auction office, 1229 Vt., on or before Nov. 7.

If the auction doesn't receive contributions for shares totaling $110,000 by noon Nov. 7, the auction will divide the proceeds as follows: 50 percent to the school's endowment fund, 25 percent to the first-place winner, 10 percent for the second-place winner, 7.5 percent for third-place winner, 5 percent to the fourth-place winner and 2.5 percent to the fifth-place winner.

Cornwell said the auction is sponsoring an open house from 1 p.m. to 4 p.m. Sunday, where shares will be sold.

Cornwell said last year's auction brought in $90,000 for the school.

More than 700 items, including new goods, antiques, services and celebrity collectibles, have been donated so far, she said.

Tickets for this year's black tie-optional event, "It's a Grand Night," are available through the auction office, 842-3445. The event, held each year at the Lawrence Holidome, drew 440 people last year.

Proceeds from the auction go to the school's endowment and development funds.

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