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Orthodox Observer - May 5, 1997

Progress Report on Archbishop Iakovos Library

Early in 1995, several members of the Archdiocesan Council, and later, His Eminence Archbishop Iakovos, asked that I serve as Chairman of a fund raising effort to build a library at Hellenic College/Holy Cross School of Theology. I accepted for a very simple and singular reason ― there was a need for a new, technologically superior library to help foster and perpetuate Orthodox Christianity and Hellenism as we approach the new century.

By John W. Georgas

Preliminary plans were already underway and initial costs prepared. After review and discussion, it was agreed to cut-back $1 million from the initial estimate and to establish a $6 million budget $5 million was budgeted for construction and $1 million for equipment and furnishings. This budget includes the cost to construct an archive center and to convert the old library to a faculty center.

The following is a summary of our current financial picture.

1. $500,000 cash (collected in earlier efforts)
2. $4.2 million in a trust-to be used exclusively for the library.
3. $6,000,000 in pledges
4. $1,000,000 commitment from Leadership 100, ($100,000 annually for 10 years) The first payment is included in Item 2. Payments in 1997 and 1998 will apply to the construction of the Library ($200,000). The balance of $700,000 over the last 7 years will help defray the operating costs of the library each year.

Original plans called for completion of the project in time for the fall semester of 1997. Circumstances have resulted in a rescheduling, and completion is now scheduled for late summer 1998.

More than 600 have endorsed the library through contributions ranging from $10 to $1 million.

| Shortly, His Eminence Archbishop Spyridon will officially authorize construction; His Eminence enthusiastically supports the library project as indicated in a letter written to me dated January 15, 1997.

In the near future, we shall re-ignite our fund raising effort to 1) collect the additional monies required to complete the project and 2) help provide for annual operating costs.

We urge all to consider again this effort and make your contribution ― if you have not already done so.

[ Orthodox Observer - Vol. 62, No. 1128 - May 5, 1997 - p. 2 ]