The costs of land and construction across the Diocese have reached a point beyond most individual parishes to undertake the types of property developments needed to provide the facilities required for effective ministry and evangelism. A Diocesan-wide approach is required to create ongoing-sustainable funding sources that help us unlock the value in the Diocesan-wide property portfolio.
While the parochial model has served, and continues to serve the Diocese well with respect to ministry, financing of property development cannot continue to burden individual parishes. Measures have been implemented over the years to share some funding from offertories but this will not be sufficient into the future. The Urban Renewal Pilot Program will generate income, but more importantly, the ground leases it overseas will provide an attractive investment opportunity for institutional investors. If this investment can be maximised, it will provide a more sustainable funding mechanism for new churches and existing church upgrades with strategic ministry and evangelism value in the Regions and Diocese.
This initiative is in its early stages, but has the potential to significantly enhance our ability to accelerate ministry facility development. For more information, please contact Ross Jones (firstname.lastname@example.org).