Building Projects Receive Loans
Episcopal News Service. November 4, 1981 [81292]
NEW YORK -- Renovation and construction projects throughout the Episcopal Church and many Anglican provinces will move ahead with the help of nearly $230,000 in low-interest loans from the Church's Executive Council Loans Committee as a result of action at its October meeting. The committee coordinates the General Loan Fund of the General Church Program and the United Thank Offering Loan Fund with the work of the Episcopal Church Building Fund and Episcopal Church Foundation.
Eleven projects won funding at interest rates of from four percent (for the Anglican projects) to eight percent (for those of the domestic Episcopal Church.) The largest loan approved this time was to the Brent Hospital in the Diocese of the Southern Philippines. The panel agreed to a loan of $50,000 for ten years subject to receiving plans for the priority use of the money and exploration of support by the government of the Philippines.
Other loans winning approval were:
- $25,000 to the Church of St. Augustine of Canterbury in the Diocese of Nebraska
- $15,000 to the Church of the Holy Cross in the Diocese of Northwest Texas
- $8,000 to the Church of the Messiah in the Diocese of Alabama
- $25,000 to Christ Church also in the Diocese of Alabama
- $25,000 to St. John's Church in the Diocese of Central Florida
- $20,000 to Christ Church, Avon Conn.
- $25,000 to St. Alban's Church in the Diocese of Tennessee
- $10,870 to the Diocese of Butare, in the Province of Burundi, Rwanda and Zaire to construct a diocesan center
- $20,000 to the Church in La Paz, Peru
- $25,000 to the Diocese of Colombia to complete a diocesan center
Many of the loans are subject to restrictions regarding securing funding from other sources.