Dear Friends of Notre Dame Priory,

A couple weeks ago I contacted you to announce a new button on our website concerning the purchase of Jerusalem Estate.

The settlement date for the purchase is 15th August, feast of Our Lady’s Assumption into Heaven—an auspicious date if there ever was one!

So, by 15th August we need $3,359,074.07. How much of that do we have? 

At this stage we are in a position to share with you the current state of our fundraising, as the following pie graph shows.  

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You can see that we are able to make the actual purchase: we have the money, but this is largely thanks to a considerable loan from the CDF (Catholic Development Fund). You will have noticed also that the loans are of various kinds: whereas the SMSF (Self-Managed Super Fund) loans are at 2.5% and the low interest loans are usually around 2%, the CDF loan interest, though competitive, is still quite a bit higher.

In other words, the more individual loans we get, the more we decrease the CDF loan and make for less money to be paid back. So our main goal at this stage is to reduce as much as possible the CDF loan by 15 August.

Ultimately however we would like to eliminate entirely the loans and make the purchase outright. This would allow us to get started immediately on building the actual monastery. The great potential of this property makes that a very likely possibility.

So what can you do to help us? There are several things. You might consider:

You might also have some questions and wish to speak with someone, to which end I put myself and my advisers at your disposal.

Twice a day we say this prayer: “O Lord, deign to grant eternal life to all those who do good to us on account of Thy name. Amen.” Yes, we truly pray that the Lord will bless the kindness you show to us, over and beyond your expectations.

May Our Blessed Lady pour her maternal love into your heart.

Fr Pius Mary Noonan, O.S.B., Prior

 

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