Hot Off the Press

As I type this post, the printer is still cranking out more hard copies of our newest prayer letter. But you can have our newest issue of the Friuli Files prayer letter made for September by clicking here or visiting our download area. If you don’t have Acrobat Reader installed on your machine. You can read a simple text version of the September issue.

On another note, we met with our bank this morning as they have been reviewing financing for our new worship center. It is common for European banks (especially Italian) to not want to take any risks whatsoever. Originally, they requested a guarantee of $180,000 which we said we could do. Now they’re requesting double. They want a guarantee of $360,000 so that they can finance our project. I told them that was absurd and that we would have no money to pay the tax burden placed on an initial sale of property. Oh yes, Italy gets theirs up front & more. The bank manager said that he thought our original amount was sufficient and that he would talk to the Direzione about it. But they hit another obstacle. They were also fearful of what’s called the “Destination of Use” which is similar to zoning laws. We have been assured that we fit into a “commercial” sector and we were approved for usage on our last property by the Municipality. However, they want new Municipality documents from us. So, we chase the tail a little bit.

More to come — for sure

No Comments »

No comments yet.

RSS feed for comments on this post. TrackBack URI

Leave a comment

Line and paragraph breaks automatic, e-mail address never displayed, HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>