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Project Financing

Policies & Procedures for New Construction, Renovation and Capital Maintenance Projects


Project Financing

Projects will be funded from the Archdiocesan InterParish Loan Fund or Archdiocesan Loan Fund. To provide low-rate loans for capital projects, the Archdiocese has established lines of credit with financial institutions at favorable terms and conditions.

The borrower must submit the following specific project information:

  • The specific reason for the loan application.
     
  • The estimated costs of the project being funded in the standard format required by the AOB.
     
  • The projected source of funds for repayment of the loan and estimation of probability of receipt of such funds.
     
  • An operating budget for the present Parish/School facilities and projected for three years after project completion.
     
  • Updated information provided at least quarterly.
     
  • The maximum amount of the loan will not exceed the borrowing level for the project as approved by AOB policy.
     
  • Before advances are made, the Parish/School must provide documentation as to its compliance with the AOB policy for cash-in-hand to begin a project.
     
  • Provide reasonable projections (including lists of pledges receivable and collection projections) indicating that the borrower will meet its minimum cash requirement at the time of completion of the project.
     
  • A quarterly Capital Projects Report must be submitted with the regular Parish quarterly financial report.