To Amend Bylaws Exclusive to Lutheran Church Extension Fund to Clarify That It May Provide Real Estate Evaluation and Redevelopment Services in Support of Synod Mission and Ministry

Rationale Most congregations and ministries within the Synod are owners of real estate. Many of these ministries need assistance evaluating their property so they can steward their assets wisely. In some cases, they may not have need for some or all of their real estate. In many cases, sale of the real estate is the best option to raise funds for future operations or to wind up affairs in an orderly way. In other cases, ministries want to keep some of the real estate to continue operations and divest of other portions. Such divest it ure may entail a sale or lease of the property to either raise funds for continued operations, maintain ministry activity in the divested property, or both. Redevelopment of the real estate may occur with retained or divested property. In most cases, ministries do not possess expertise in the evaluation, redevelopment, or re-purposing of real estate. Lutheran Church Extension Fund (LCEF) has decades of experience in assisting ministries in evaluating, acquiring, developing, and selling real estate through its church extension activities. LCEF has expanded this expertise in the last few years by hiring a team of individuals with extensive real estate consulting and redevelopment experience. LCEF can provide expanded real estate services that are of great value to the ministries of the Synod. The requested bylaw changes are exclusive to LCEF and are necessary to clarify that it is within LCEF’s purposes to provide such real estate services to ministries within the Synod. Therefore be it

Resolved, That Bylaw 3.6.4 be amended as follows: PRESENT/PROPOSED WORDING The Lutheran Church Extension Fund—Missouri Synod 3.6.4 The Lutheran Church Extension Fund—Missouri Synod, as established on June 15, 1978, as a corporate entity under the laws of the State of Missouri, is operated by its members and Board of Directors, in accordance with its Articles of Incorporation and corporate Bylaws, to further the objectives and duties of the church extension fund by providing provide financial, real estate, and other related resources and related services for ministry, witness, and outreach within the Synod and, as approved by the Synod Board of Directors, beyond the Synod: (1) to and within partner churches with which the Synod is in altar and pulpit fellowship; or (2) upon the recommendation of the President of Synod, to Lutheran entities formed and operating outside of the United States that assist in fulfilling the Synod’s ministry and mission objectives in foreign countries.

and be it further

Resolved, That Bylaw 3.6.4.4.1 be amended as follows: PRESENT/PROPOSED WORDING 3.6.4.4.1 The assets of the Lutheran Church Extension Fund— Missouri Synod shall be used exclusively to provide financing and services for the acquisition of sites, for the construction of facilities, for the purchase of buildings and equipment, for operating expenses, for professional church worker education, for the residential housing needs of professional church workers, for promoting strategic ministry planning and assisting in capital campaigns, for the evaluation and redevelopment of real estate; and for other purposes approved by its governing board and the Synod Board of Directors, which purposes shall be consistent with the ministry and mission of the Synod.