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ECAC Building Project Unique Opportunity

ECAC Building Project Unique Opportunity. EMC/JMC Town Hall Meeting February 24 th 2013. Agenda. What has happened since September 2012 and VCC update Review the church building project with comparison of 199 Street and VCC Recall God’s grace for VCC Next Step for ECAC Conclusion

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ECAC Building Project Unique Opportunity

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  1. ECACBuilding Project Unique Opportunity EMC/JMC Town Hall Meeting February 24th 2013

  2. Agenda • What has happened since September 2012 and VCC update • Review the church building project with comparison of 199 Street and VCC • Recall God’s grace for VCC • Next Step for ECAC • Conclusion • Questions and Comments

  3. What we did in September 2012 • We had two town hall meetings on the VCC unique opportunity, a site tour and congregations feedback on VCC. • Feedback from the congregations showed overwhelming support for a bid for VCC. • Elder Board unanimously endorsed submitting a bid on September 10th, 2012 • Elder Board is mindful of the concerns expressed by some members mainly on location and ministry direction of ECAC and has considered them seriously.

  4. Update on our September 2012 VCC Bid • One month ago, we discovered that due to various circumstances our bid, as well as any other bids, were not presented to the courts. • Elder Board and the Western District of C&MA have been monitoring the process closely. • Two weeks ago the court appointed receiver informed us we have a unique but time-limited opportunity. • Our bid and another higher bid will be presented to the courts as soon as possible. • If we can remove the conditions on our bid the courts may accept our unconditional bid in preference to the other bid.

  5. The Conditions to be removed • 1. Environmental site assessment • 2. Building inspection • 3. Congregational Approval by means of a GMM vote of over 75% approval • 4. District Approval

  6. Vision and Progress of ECAC Building Project • 2000: Vision for a larger facility • 2005: Bought and paid for 199 Street property at $1.22 million • 2008: Land Use Task Force completed, church voted for a “One-Campus Church”. • 2011: Building Committee investigated into swapping land or buying older churches/schools to meet our facility needs – none were suitable • 2011: Capital Campaign raised $2.8 million for building project • At present, usage of rooms and sanctuaries are maximized, ministries and fellowships are struggling to find space for growth.

  7. Unique Opportunity in Victory Christian Center Judicial sale of VCC in September 2012. This means the property sale will be handled by the court through a bidding process. The court will sell the property to the successful bidder. The asking price was $14 million, including land and buildings on the site.

  8. Compare 199 Street facility with VCC facility after additions/renovations

  9. 199 St Facility • The site has 12 acres of land • The church building is brand new, almost 25,800 sq ft, with one sanctuary of 560 capacity and a gym/sanctuary of 460 capacity. • CE building/offices are portables that are new, will have 8 offices and 16 classrooms of 8,500 sq ft. • Parking stalls 320

  10. VCC Facility • The site has 20 acres of land. • The church building was built in 1988; it is almost 22,600 sq ft, with one sanctuary of 1,250 capacity, offices, five classrooms and a daycare center on the mezzanine. • Next to the main building, a school made up of portables built in 1992, it has a size of 25,400 sq ft with offices and 16 large classrooms, one small kitchen and a large meeting area. • There is a sports field on the site

  11. VCCFacility • HAI architect completed a conceptual plan renovating VCC to meet our facility needs and to update this 1988 building • HAI considered these areas • Parking stalls - from 200 to 521 • Larger foyer - thus sanctuary capacity decrease from 1,250 to 950 • Add gym/sanctuary 460 capacity, large kitchen and washrooms - over 14,000 sq ft • The following slides are Space Planning Drawings

  12. VCC facility

  13. Compare 199 street facility location vs VCC facility location

  14. y

  15. 199 St Brand New 12 acres of land Sanctuary capacity 560 Gym/sanctuary 460 Office/classroom-8/16 Total area-34,270 sq ft Parking - 320 VCC Partly New 20 acres of land Sanctuary capacity 950 Gym/sanctuary 460 Office/classroom-8/22 Total area-62,000 sq ft Parking – 510 One Football field Compare 199 Street facility to VCC facility after additions/renovations

  16. Compare 199 Street facility to VCC facility on Timeline and Cost

  17. Review of 199 St: Timeline & Cost Anticipated completion:Late Fall 2014. Current Estimate $19.5 million Projected deficit is $3.66 million* Condition Required: *$5,2 million Over Expenditure charge Most likely this will be waived by the City due to precedence for other churches which are also non-profit organization Note: *$3.66 million may require 2 to 3 Capital Campaigns which will delay anticipated completion date. This will increase estimated cost of building.

  18. VCC : Timeline and Costs • Anticipated completion:late fall 2014 • Current Estimate $16 million Projected Deficit: $0, No new Capital Campaign

  19. VCC: Due Diligence and Bid Price Appraised value of VCC 1. The official appraised value is $7.5 million 2. We hired an appraiser to guide our bid at a fair price. Our appraisal came in at $9 million Due diligence was done to include the onsite cost, payment to city, building construction, furniture, interest, architect fees, construction management fees and contingency; total cost to build is $9.2 million Elder Board decided on a bid of $6.8 millionwhich is affordable to us and at fair market value

  20. Funding of VCC Project Sell 199 St property of 12 acres - $3.5 million Sell current church to coincide with the completion of the VCC renovations - $1.75 million Collect outstanding Capital Campaign faith pledge – $1.4 million District fully supports us in this project and will provide Bridge Financing and long term Mortgage ($3.5 million over 25years at prime plus 0.5% interest) District will provide a non payment loan on the extra 10 acres for $3.1 million. (District will not call the loan until the church is able to pay back this amount. The interest is accrued monthly at prime plus 0.5% interest. As long as we don’t utilize the land we don’t have to pay the loan. )

  21. Mortgage payment • Mortgage is $3.5 million from Royal Bank, monthly payment is $20,450. • Term is 5% interest for 25 years • This works out to approximately an added $17.60 in donations per family unit, per week

  22. Compare 199 St versus VCC: Timeline and Cost 199 St VCC Anticipated completion late fall 2014* Cost $19.5 million Conditions Required: -Waiver of OE charges $5.2million (Most likely) -Sell our present church - $3.5 million mortgage -No payment loan from District on extra 4 acres *$3.65 million from additional Capital Campaigns • Anticipated completion late fall 2014* • Cost is $16.03 million Conditions Required: -Successful bid -Sell 12 acres to open market -Sell our present church - $3.5 million mortgage - No payment loan from District on extra 10 acres * No additional Capital Campaign

  23. Compare 199 St site with VCC site on Location

  24. ECAC 199 St Location VCC

  25. 199 St West of city Easy access from Anthony Henday Drive District agrees on this location for a church VCC South west of city Easy access from Anthony Henday Drive District thinks this is prime location for a church Compare 199 St vs VCC on location

  26. 199 St (5019- 199 St) From WEM – 10 minutes From Shaw conference centre - 25 minutes From Terwillegar Towne – 14 minutes (*to 9120 146 street – 15 min) From Summit Centre St Albert - 18 minutes VCC (11520- Ellerslie Rd) From WEM – 19 minutes From Shaw conference centre - 28 minutes From Terwillegar Towne – 11 minutes From Summit Centre St Albert – 27 minutes (*to 9120 146 street - 26 min) Travel time by car to 199 St vs VCC (google map)

  27. Transportation to VCC • From University of Alberta Campus, 20 minutes car ride South • From Southgate, 15 minutes car ride South through 111 Street • From Century Park, 8 minutes car ride South through 111 Street • LRT and bus route on UA campus and 111 Street South to Ellerslie Road and 8 minutes walk West to VCC

  28. Recall God’s grace for VCC • Low bid was not accepted by VCC lenders in September 2012, Other bids have many conditions, also not accepted • Expectation of VCC lenders was reduced from 14 million - November 2012 another church bid at much higher price but with conditions, By God’s grace, two weeks ago, we were given the opportunity of an unconditional bid by the VCC lender. • By God’s grace, District is willing to support us with a $3.1 million no payment loan for the extra 10 acres • Building assessment was priced at $16,000. By God’s grace, in 1 day we found a Master Inspector who charged only $6,000. In addition, because he is a Christian, he will donate $3,000 back to our church. • Cost of Environmental study priced at $3,250. Total cost for Building assessment and Environmental study is $6,250. By God’s grace, it was underwritten by an anonymous donor. Thus, there is no cost to ECAC in meeting the first two conditions

  29. Next Step for ECAC • Two Town Hall meetings held on February 24th (today) - MMC and CMC, at 11am to 12:30pm - EMC and JMC, at 12:45 pm to 1:45pm • Town Hall Meeting Handout available for prayer and decision making • Advance Voting available on March 3rd (next Sunday) at the church office.* • Voting on March 10th (two Sundays from today) at 12:45 pm in the main sanctuary for all congregations. Decision will be announced after votes are counted.* *Voting is for ECAC members only

  30. If Congregational Approval is given :(over 75% “yes” vote received) • Need both Environmental Studies and Building Inspection to be satisfactory. • Need District approval. • Then District will submit the unconditional bid to the courts on behalf of ECAC on the date appointed by the judge. • If the Judge approves our bid, the monies will be due and payable by the District immediately and the District will own the VCC site. • The District will give us directions to organize the transitional phase of building additions, renovations, sell of this church and sell of 199 Street land. • We can aim to move to VCC renovated site by late fall 2014.

  31. Conclusion: • VCC facility meets ECAC facility needs • This unique opportunity could bring us to our desired goal of a larger, newer worship facility. It will meet our growing needs with significant cost and time savings. • The District supports us to enter an unconditional bid • Elder Board experienced God’s grace in this unique opportunity • Our responsibility is to be good stewards of our resources and opportunity. We strive to make the wisest decision we can. In balancing the pro’s and con’s between the VCC and 199 Street sites, Elder Board is favorable towards submitting an unconditional bid.

  32. Conclusion continued: • We do not know how God will lead—whether it will be VCC or 199 St—but we are certain of this: ECAC is committed in prayer to ask God to clearly open or close doors according to His will.  We are committed to submitting to God’s plans. • In the midst of complex emotions that may arise in a vote, we are committed to Building TOGETHER, and the greater journey of learning unity and how to care for each other as four congregations, three languages, and one church—for the glory of Christ.

  33. End of Presentation Welcome Questions and Comments

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