Magazine article Anglican Journal

St. Jude's Cathedral in Iqaluit Pays off Its Debt

Magazine article Anglican Journal

St. Jude's Cathedral in Iqaluit Pays off Its Debt

Article excerpt

Twelve years after St. Jude's Cathedral--the iconic house of worship in Iqaluit, Nunavut--was destroyed by arson, the diocese of the Arctic announced it has finally paid off the debt accrued in rebuilding it.

"We're pretty excited about that," said Suffragan Bishop Darren McCartney, who oversees the eastern regions of the diocese of the Arctic. " [It is] a big weight off our shoulders."

The announcement comes after more than a decade of fundraising during which the fate of the new cathedral, which was completed in 2012 at a cost of just over $ 10 million, was sometimes in question.

The new St. Jude's Cathedral was built by Dowland Contracting Ltd., with whom the diocese entered into an informal arrangement to pay back the money as funds were raised.

However, a year after the cathedral's consecration in 2012, Dowland was put into receivership and it later filed for bankruptcy protection.

The receiver, Alvaraz and Marsal Canada, Inc., asked for immediate repayment of the outstanding debt (around $3 million), in addition to $30,000 per month in interest.

"We were facing the pressure of having to pay that right away, or lose the cathedral," McCartney recalled. …

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