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The Executive Committee of the Archdiocesan Council of the Greek Orthodox Archdiocese of America held its regularly scheduled meeting on January 13, 2025. Included on its agenda was discussion of extending its guarantee of an existing $1 million line of credit issued by a bank to St. Demetrios Cathedral of Astoria for an additional 4 months to May 1, 2025, which the Executive Committee unanimously approved. This decision, made by the Archdiocese Executive Committee earlier this week, is not a loan, nor does it indicate any uncertainty about the financial plan for St. Demetrios. The Archdiocese serves solely as guarantor and is not a borrower. No additional loans, financings or investments in St. Demetrios Cathedral were discussed or approved by the Executive Committee at its meeting.
