wfn.org | BCE directors approve $8.9 million in loan

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Date: June 27, 1997
Disciples News Service
Christian Church (Disciples of Christ)
Contact: Clifford L. Willis
Email: CWillis@oc.disciples.org
on the web: http//www.disciples.org

97b-42
                         

    ARLINGTON, Texas (DNS) -- Approval of more
than $8.9 million in loan requests, visits to 17
Dallas/Fort Worth area congregations and
presentations by two outside consultants
highlighted the June 20-23 Board of Church
Extension directors meeting.

    Loan requests, from 19 states plus Puerto
Rico, will be used to underwrite 42 capital
improvement projects for congregations and
Christian Church (Disciples of Christ)-related
organizations. Combined costs for the projects,
varying from remodeling and new construction to
debt refinancing, totaled  nearly $14 million.
Loan requests ranged in size from $8,000 to $1.5
million.

    Jack Pecsok, Indianapolis, longtime
architectural consultant for BCE, discussed
accessibility barriers in church buildings in two
presentations for directors and staff. The
presentation included a field visit to First
Christian Church, Garland, Texas, with directors
and staff being challenged to identify building
barriers.  

    Besides the Garland congregation, tours were
made of two other churches where BCE has been a
partner in building renovation or expansion.
Leaders at Rush Creek Christian Church, Arlington, 
described the building process for their new
sanctuary while members of Midway Hills Christian
Church, Dallas, explained their process leading up
to construction currently underway for additional
administrative and education space.

    In other action, directors approved eight
interest-free loan requests totaling $458,650 for
projects in Puerto Rico, Ohio, Kansas, New Mexico,
New York, Texas and Florida. This brings to 12 the
number of congregations with outstanding
commitments totaling $758,650 in interest-free
loans.

    As of May 31, reports showed loan balances of
more than $82 million while BCE's assets stood at
$100 million. Investments placed with Board of
Church Extension, a primary source of loan funds,
stood at $78.5 million.

    In the president's report, the Rev. James L.
Powell lifted up the need to increase investments
to meet the anticipated loan demand from
congregations. "A recent letter to Disciples
pastors invites members and congregations to place
some of their funds with BCE so we can provide
them not only a good return on their investment,"
Powell noted, "but also so they will know they are
helping Disciples congregations grow."

Church Extension directors approved reports
showing:
          staff completed 187 field visits during
          February, March and April, and directed
          seven fund raising campaigns that achieved
          pledges of $743,390;
          gifts to the unit from individuals and
          congregations in the first five months of
          1997 exceeded $238,000.

     During the meeting, directors also heard from
BCE's legal counsel, Terrance L. Eads,
Indianapolis, who reviewed their legal and
fiduciary responsibilities. The 63 directors,
staff and families worshiped June 22 in 14 area
Disciples congregations.

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DISCNEWS - inbox for Disciples News Service, Office of Communication, Christian Church (Disciples of Christ), PO Box 1986 Indianapolis, IN 46206, tele. (317) 635-3100, (DISCNEWS@ecunet.org) Wilma Shuffitt, News and Information Assistant; (CWILLIS@oc.disciples.org) Cliff Willis, Director of News and Information; (CMILLER@oc.disciples.org) Executive Director