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The President is authorized to make loans, issue loan guarantees, and make grants to congregations seeking to buy land for a new building, to build a new building, or to make major improvements to an existing building.
The President shall establish all terms of these programs, subject to the restrictions stated in this policy.
The President shall report to the Board of Trustees annually on these programs.
The maximum amount of that may be loaned to any congregation is $900,000.
The maximum amount of any loan guarantee is the smaller of $450,000 and 50% of the principal amount of the loan being guaranteed.
In any fiscal year, the President shall not expend more money for building grants than the total amount specified in the UUA [Unitarian Universalist Association] annual operating budget for this purpose.
The President may use the following funds for the loan, loan guarantee, and grant programs:
The President shall develop and consistently apply policies to assure that loans:
For more information contact administration @ uua.org.
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Last updated on Friday, July 22, 2011.
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