I suspect the buildings will absorb much money - not the best position/premises to start from.
I'm somewhat concerned re involvement of the Mormons - possibly better than the commercial firms such as ancestry but I'd prefer an entirely MNH/Island controlled scheme.
As I said earlier the 1911 copy is more than adequate as a basis for parish registers - only in a couple of cases have I really needed to check out the original (in both cases the 1911 was correct!) - for some registers their legibility is probably less than in 1911 (maybe they could rephoto in ultraviolet to pick out ink)