Florida Business Leaders Make Million Dollar Pledge to Help At-Risk Children in Central Florida

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Doug Long and Jeff Vratanina of Covendium will donate a portion of proceeds from an upcoming investment property auction to three charities that provide aid to at-risk Central Florida children.

The spectacular property in the Blue Ridge Mountains of North Carolina will be up for auction on Thursday, December 15th.

We want to write a BIG check to help children in need.

Doug Long and Jeff Vratanina, founding members of Covendium LLC, the nation’s leading commercial debt resolution and advisory firm, have pledged to share the proceeds from the upcoming sale of an investment property in North Carolina with three Central Florida charities that focus on aiding homeless and at-risk children. Based on the appraisal of the auction company, Mr. Long and Mr. Vratanina expect that the total donation could be $1,000,000 or more.

Upon the sale of the properties, three charities will be receiving the cash donation from Mr. Long and Vratanina: Families in Transition (FIT), a program established to serve the educational needs of homeless students in the Seminole County School System; The Boys and Girls Club of Central Florida; and the Youth Transition Network. The donation will provide at-risk and homeless children with transportation to school, school supplies, meals, tutoring, mentoring, after school activities, life skills training and referrals to local service agencies for additional services when necessary.

“Doug and I were heartbroken after watching the recent CBS 60 Minutes story about homelessness in our own backyard of Central Florida. Children have no better opportunity to escape poverty than through an education, but when circumstances outside of their control make them helpless to pursue that education, a vicious cycle will only accelerate,” remarks Mr. Vratanina.

Beth Davalos, coordinator for the Families in Transition Program for Seminole County Public Schools commented to the Orlando Sun Sentinel, "We're seeing more families in our program. I have many children living in their cars. Usually, we're able to get them into motels. Many families have no place to turn. They have no options. There's limited funding. Some families don't even have cars. They're working families, but they don't make enough to carry the family."

To raise the funds, Mr. Long and Mr. Vratanina have placed for auction a fully developed, 125 Acre, 50 lot, gated residential development, located in the Blue Ridge Mountains of North Carolina. This majestic property offers spectacular mountain views and lake access to Lake Glenville. The property is tax assessed at over $9,500,000. Mr. Long and Mr. Vratanina have pledged to share 50 cents of every dollar received over $3,000,000 million; an over $1 Million donation if the property sells above the auctioneer’s estimate. The auction for the property is scheduled for Thursday, December 15th and is being held by Fisher Auction Company (http://www.fisherauction.com) in Atlanta, Georgia.

“Jeff and I are looking forward to giving a much-needed Christmas gift to the children of Seminole Central Florida,” adds Doug Long. “It’s a beautiful property, the minimum bid is $2.85 Million, and we are pretty optimistic that the property will be at or above the auctioneer’s estimate. Jeff and I want to spread the word that not only will someone be able to acquire an amazing property at a reasonable price, but the children of Central Florida will share the proceeds of the sale. We want to write a BIG check to help children in need.”

For more information about the Auction, contact Fisher Auction Company (NC Lic 7100) at 800 331-6620 or view the property at http://www.greycliffatlakeglenville.com/

About Covendium
Covendium specializes in comprehensive commercial debt resolution, restructuring and business consulting for clients whose financial model has been compromised by the economic downturn and the bank liquidity crisis.

For some clients, all they need is an experienced negotiator to provide their lender with the reality of the financial situation and the tool-set to restructure their obligations. For other clients, Covendium provides business consulting and access to non-bank funding sources.

Their team of professional advisors has successfully restructured billions in transactions, with dozens of banking institutions (including major national, regional and community banks) and over 30 separate non-bank financial counterparties.

Bad things happen to good people. Covendium is a premier national debt resolution firm that helps their clients with everything from commercial foreclosure to debt management to commercial debt restructuring to private debt placement.

For more information about any of Covendium’s products or services, call them at (407) 284-4000, or view them on the web at http://www.covendium.com.


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Jonathan Gorman
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