July Vestry Actions

At its meeting on July 26, the Vestry:

  • Approved the recommendation of the Finance Committee to select BB&T as the primary banking relationship of the Chapel of the Cross, to include support of the debt required for financing Phase One of the Master Plan, and authorized the Senior Warden to sign the commitment letter and to submit the loan proposal to the Standing Committee for approval; and, once approved, to negotiate the loan documents and with the Junior Warden to execute other necessary deeds and instruments
  • Approved the resolution recommended by the Finance Committee to seek the approval of the Standing Committee to proceed with the loan process and enter into an agreement with BB&T for this purpose
  • Learned that there is a matching challenge grant of $300,000 from a parishioner to raise the additional funds needed to finish the third floor of the new building
  • Approved a designated grant of $10,000 to the Church of the Advocate to assist in moving St. Philip’s Germanton to the Advocate’s site off Homestead Road, and specified the funds to be drawn upon
  • Acknowledged receipt of the 2011 Annual Audit
  • Approved John Pegram as Treasurer-Designate of the Chapel of the Cross, to be elected to a non-renewable three-year term at the May 2013 Vestry retreat
  • Approved Elizabeth Costello for candidacy
  • Learned that the ground blessing will take place on September 23 at the Fall Feast and that Linda Rimer will coordinate this event.

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