Financing is secured for construction of new cultural center in New Jersey (10/02/05)

Financing is secured for construction of new cultural center in New Jersey

WHIPPANY, N.J. - The building committee in charge of finance and construction for the new Ukrainian American Cultural Center of New Jersey and St. John's Parish facilities have secured loan financing that guarantees completion of the first phase of construction.

"We are proud to announce a partnership between Selfreliance Ukrainian American Federal Credit Union and our Ukrainian community in Northern New Jersey," said Orest Kucyna, project construction chairman.

"Our project finance committee, headed by Peter Binazeski and Lubodar Olesnycky, did an outstanding job of investigating many options with multiple banking institutions. Selfreliance stood up to the challenge and presented a very competitive loan package that guarantees our ability to complete construction by September 2006. Their action exemplifies commitment to both the project vision and to the Ukrainian community."

The first phase of project construction began on May 14. This includes the 24,000-square-foot cultural center, an interim chapel, parish rectory and all permanent site improvements (roadwork, parking and landscaping).

The second phase of construction will include a new 300-seat church and bell tower, both of which will begin once fund-raising targets are met.

The center will be the new home for Ukrainian community groups such as Plast Ukrainian Scouting Organization, Plast-Pryiat, Ukrainian American Youth Association (SUM), Lesia Ukrainka School of Ukrainian Studies of Morris County, Children of Chornobyl Relief and Development Fund, Self Reliance Ukrainian American Federal Credit Union, Iskra Dance Ensemble, Ukrainian Congress Committee of America, the Sitch Sports Club and others.

For additional information, readers may visit the website at www.uaccnj.org, or contact the UACCNJ Building Committee at (973) 540-9144.

Donations to the UACCNJ are welcome and can be mailed to the following interim address: 7 South Jefferson Road, Whippany, New Jersey, 07981.

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