(From the report to ExComm 2009)
The committee is busy working on the establishment of a UPCSA Church Growth Fund. Both the Finance Committee and Priorities and Resources Committee have expressed support for the establishment of a fund of this nature and over the coming months the committee will put a proposal together to be presented to the 2010 Assembly. It is envisaged that this fund will:
- Offer substantial loans to congregations for the purchase of property.
- Offer grants to congregations in economically constrained contexts for the purchase of property.
- Offer financial support for evangelical work in new church plants for a limited period, probably 2 years.
- Purchase property in new/growing residential developments for the future planting of congregations.
The Fund will need to have a substantial cash injection with which to start operating; upwards of R20 million, as well as ongoing deposits to sustain the fund, though some of the capital will be recouped from loan repayments.
This is still in its infancy, but we will keep you posted.