Southwest Sydney Congregation & School Project Update
Synod 2021 approved the establishment of a new congregation and school in Southwest Sydney on the primary assumption that the project would be entirely debt funded. A subsequent review of financial modelling identified the very high risk of project failure using an entirely debt funded model approach. This review demonstrated the success of the project requires a proportion of the project costs to be contributed as equity by the Church.
On this basis, the Synod Standing Committee determined not to proceed with the project due to both the risks identified including the revised funding requirements and the need to balance all Future Directions projects.
We remain focused on the key commitments required to achieve the Future Direction growth and resourcing goals.