Step Five: Proposal goes before Standing Committee for final review.

Step Five: Proposal goes before Standing Committee for final review.

ECCT’s Standing Committee and Bishops will review your materials as well as the financial and property reviews and observations and recommendations of by ECCT staff. In some cases, the Standing Committee and Bishops may ask your parish to provide additional information or do additional due diligence. ECCT staff, Bishops, and the Standing Committee are here to help with the goal of ensuring that your parish gets the best agreement possible for its shared resources.

Once a decision is reached by the Standing Committee and Bishops, it is communicated to your parish’s main contact via email.

Step Four: ECCT Staff assist Parish with Financial and Property Reviews.

ECCT staff will partner with your parish to complete financial and property reviews. The financial review ensures your parish is financially stable and able to enter an encumbrance or alienation without risking the short- or long-term viability of the parish. The property review ensures that any agreement being considered protects the parish’s property, which in these transactions is your most valuable asset. Once these reviews are complete, ECCT staff submits them to the Standing Committee and Bishops, along with any recommendations or concerns raised, for their review.

Step Three: Proposal submitted to the Standing Committee via online form.

Once you have completed your due diligence and have all your documents in order, submit them online. Always identify a contact person, either your parish clergy (rector or priest-in-charge), warden, or treasurer who will serve as the primary point of contact between ECCT and the parish throughout the approval process. This person should be well-informed as to the parish’s progress of the encumbrance or alienation and, while not expected to know the answer to every question, will know “who to ask” to get the needed answers to any questions that may arise.

Step Two: Parish does their due diligence.

Once a course of action has been chosen, your parish initiates its due diligence to ensure securing the best agreement possible for your parish. Depending on what type of encumbrance or alienation you are pursing, due diligence will include one or more of the following:

  • Consulting with a real estate or property attorney (leases, easements, alienations)
  • Consulting with a real estate agent (leases or alienations)
  • Consulting with lenders to explore rates (mortgages or construction loans)

 

Step One: Identify Opportunities

The process begins by engaging in conversation with knowledgeable partners who can help support your parish as you discern what possibilities your property presents for transformation and income generation.

ECCT recommends contacting Stewardship Realty. In addition, the diocese offers a grant to help support the initial cost of their services.