Foundation Loans Aid Building Programs
Diocesan Press Service. August 4, 1975 [75270]
NEW YORK, N.Y. -- Loans totaling $60,000 from the Revolving Loan Fund of The Episcopal Church Foundation have been approved for parish and mission building projects in three dioceses. The interest-free loans are repayable in ten annual, equal installments, and a small service fee is charged on the unpaid balance.
A loan of $20,000 to the Diocese of San Joaquin will be used by St. Luke's in Merced, California, to construct a multi-purpose parish hall with classrooms and offices for the clergy. This is the first phase of a three-stage building program which the parish will complete as additional funds become available in the future.
The Diocese of New York received a loan of $15,000 to help St. Andrew's Mission in the Bronx purchase a new organ and install security devices. The mission is striving to strengthen its leadership role in the community by a three-pronged program of music, preaching, and community outreach, and music has proved an effective means of increasing attendance.
A $25,000 loan to the Diocese of Chicago will enable St. Paul's, in McHenry, Illinois, to build a new church and remodel its present structure for use as a parish hall and Sunday School. The congregation has outgrown what was built as a temporary structure 18 years ago and urgently needs enlarged facilities.
The Episcopal Church Foundation is a national, independent organization of laymen and women who support projects of significance to the Church that would otherwise be left undone.