Getting credit in today’s gloomy economic climate is not easy, but banks are making loans to creditworthy clients. Happily, we’ve received reasonable offers from two institutions (Citibank and Commerce Bank), a testament to the sound fiscal management of Treasurer Bruce Lovett and the Finance Committee. That committee is now performing its due diligence on those offers, questioning and negotiating the best deal we can get.

According to our By-laws and NY State law, only the Congregants can approve our entering into a mortgage obligation, which is one of the reasons we’ve called a special meeting of the congregation for November 3. At that meeting we will review the details of the mortgage and ask for the congregation’s approval. We’ll also take advantage of the special meeting to propose a needed By-laws change and to vote on extending Rabbi Bachman’s contract for another three years.

Some congregants have asked if approving the mortgage will mean a dues increase. The answer is no, the current dues structure was set last spring in anticipation of obtaining this mortgage; the budget already reflects what we expected to pay towards monthly financing costs.