There has been some good conversation in the public square regarding Faith West and the type of financing that is being pursued to build it. Tax exempt bond financing is a mechanism that is not used very frequently in our town, but is used all over the country for projects similar to–and much larger than–ours.
Some facts regarding tax exempt bonds:
- They are open to all 501(c)3 organizations.
- They do not affect the credit rating of West Lafayette or any other city.
- The City of West Lafayette is in no way responsible for repayment of the money; Faith Church is.
- The city simply serves as a conduit for approval of these bonds; nothing more.
Below is a video that our team put together to help explain some of the common questions that have been circulating and some answers to those questions.
We’ve also included the following documents that may help you understand the project and some of the issues:
- Frequently Asked Questions: Questions that have been asked about this project and the TE Bond process in general.
- Legal opinion from our attorney: Here they address one of the concerns that has been raised regarding Church and State.
- TE Bond funded religious projects: Another document from Ice-Miller which lists some recent projects they have worked on that received a TE Bond and has a strong religious connection.
- Faith West comparables: Compares Faith West to other projects around the nation that have received TE Bonds and has many similarities to Faith West.
- Letter to the EDC: A letter that Pastor Viars sent to the members of the Economic Development Commission.
- Response to Freedom from Religion Brief: Answers objections recently raised by FRF Foundation from Madison, W, an organization which seeks in part to “educate on non-theism.”
If you have any further questions after watching the video, please contact Josh Greiner at email@example.com or call him at the church at 765-448-1986.