ROLLERCOASTER RIDE CONTINUES
The emotional roller coaster ride that is Project 21 continues unabated, with a
mix of the good and not-so-good news arriving together. First, the disappointing
news that project costs have risen again, due to circumstances beyond our control.
But at the same time we can celebrate the fantastic news that, on the morning
of going to press, we received a cheque that tipped the £5 million mark.
FUNDING THE GAP
The overdraft facility which was negotiated some time ago is now expected to
be needed this month (May). In the autumn, when the major building phase
is complete and final costs are known, the overdraft will be converted into a
long-term loan. The size of this loan will depend on how much funding has been
received over the summer. We can also reduce the loan with one-off gifts after
September, with no financial penalty.
What can we do?
There are several ways people can help fund the gap:
- If you are already giving to Project 21, or have pledged to give, please continue to fulfil your pledges
- Make a one-off donation to help reduce the overdraft and the interest
- If your Project 21 giving has ended, consider increasing your general church giving to help cover repayments of the term loan in future
- Consider fundraising
FUNDRAISING
Grants
We are still waiting to hear from the Laing Family Trust — one of the grant
funds to which we have applied — who came to visit the site and see the work
in progress. Please pray that our application is received favourably and has a
positive financial outcome.
The Project 21 challenge
Small groups and teams within St Paul’s and St George’s are being invited to rise
to the challenge of fundraising for Project 21. The events that people organise
will also help build community as we prepare to move back to York Place.
If you want to take up the challenge or discuss ideas, please contact Emma Vardy
or Andy Davis, at project21@pandgchurch.org.uk
PRAYER & INFORMATION MEETINGS
A surprise tour of the building site delighted those who attended the April prayer
and information meeting. Although access was restricted to a small area, the
group were able to walk through the new glass foyer and get a good view of the
balconies, upper walkways and the ground floor of the new extension.
The next prayer meeting will be on Tuesday June 24th, at 8pm, 40 York Place.
Please book the date in your diary and come along to hear the latest updates
and pray for the ongoing success of the project.
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