Q. Why was the building size reduced?
A. It was reduced by 15% due to financial reasons. It was reduced from 117,000 sq ft to 100,000 sq ft. Our current building is 75,000 sq ft. Even with a reduction, this building is 33% larger than the existing space and much more efficient. Even with a reduction, we will still be able to accomplish all of our essential ministry functions.
A. The youth will have dedicated space in the southwest wing and the leadership is excited for this change. This new space will allow for additional growth. The nursery space will be conveniently located next to the
Q. What is the general financial breakdown of the $29 mil project? What is the projected loan amount? What are we projecting as the monthly payment for this loan amount?
A.
· Land cost = $5.9 mil
· Professional services = $1.7 million
· Construction = $16.6 million
· Equipment and furnishings = $1.5 million
· miscellaneous = $2.7 million
· contingency and reserves = $1.0 million
· In-kind services ($400,000)
· Total project cost $29.0 million
· Projected loan amount = $16 mil permanent loan
· Projected monthly loan payment = $100,000
A. At this point the most likely funding scenario is through a bond issue. We are still working through all of the underwriting details and there will be more information available at the Open Forums.
Q. What will be taking place over the next few months prior to ground breaking?
A. The Building Committee will be working to complete construction documents and completing the paperwork for building permits and approvals for construction; The Finance Committee will be completing the paperwork and details related to the bond issue. The congregation will be voting on approval of the funding package in April.
Q. What is the purpose of the Open Forums on March 1 and 8? When will we be voting on the funding for the project?
A. The purpose of these Open Forums will be to make short presentations on the building redesign and the funding options but they are really for you to come and ask your questions. The church vote for funding will be in April.
A. Keep praying with us for God’s wisdom and guidance; continue your faithful giving to the general budget and the building fund. If at all possible, fulfill your pledge early; attend the open forum and funding informational sessions if you have questions and/or concerns. Our desire is to keep you informed and involved in the process.



