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Town Meeting December 3, 2007 Presiding: Joe Moore, Chairperson Horizon Team

Our Present Reality. Construction Costs have risen 20% in the past yearWe needed to raise $3 Million in ?A Time to Build" (not including district gift)We pledged approx $2.1 Million. Our Present Reality. Our Phase 1 Project had 3 major componentsSite workWorship buildingEducational building (2

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Town Meeting December 3, 2007 Presiding: Joe Moore, Chairperson Horizon Team

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    1. Town Meeting December 3, 2007 Presiding: Joe Moore, Chairperson Horizon Team Description of Our Present Reality Presentation of Options w/pros and cons Open discussion/questions

    2. Our Present Reality Construction Costs have risen 20% in the past year We needed to raise $3 Million in “A Time to Build” (not including district gift) We pledged approx $2.1 Million Emphasize: how well the campaign was run $3 million was a very aggressive goal Follow up is being done for those who have not pledged But reality is that we will not meet goal Overall stewardship has increased tremendously in past few years, and operating budget is the best we have ever experienced, which is important in bank financingEmphasize: how well the campaign was run $3 million was a very aggressive goal Follow up is being done for those who have not pledged But reality is that we will not meet goal Overall stewardship has increased tremendously in past few years, and operating budget is the best we have ever experienced, which is important in bank financing

    3. Our Present Reality Our Phase 1 Project had 3 major components Site work Worship building Educational building (2 story) with nursery/preschool wing Removing either of the last two components will save approx. $2 Million in Construction Cost Note that construction on the component we choose will increase somewhat from the original bid because fixed overhead is now spread over smaller construction budgetNote that construction on the component we choose will increase somewhat from the original bid because fixed overhead is now spread over smaller construction budget

    4. Project Funding if One Building Component is Removed from Phase 1

    5. Sources of Funds Cash on Hand $ 375,000 A Time to Build $1,680,000 Bank Financing $3,160,000 $5,215,000 Note bank’s willingness to loan $4 Million is based upon operating budget numbers and not capital campaign receipts.Note bank’s willingness to loan $4 Million is based upon operating budget numbers and not capital campaign receipts.

    6. Options Do Nothing - Delay Build Worship Facility Only Build Educational Facility Only

    7. Do Nothing - Delay Pros We get worship and education at the same location at the same time Cons Costs continue to rise Loss of momentum Delay reaching new people

    8. Build Worship Space Only Pros Will attract new people Attractive building – excitement Cons Already have a worship space No expansion of discipleship groups No preschool/nursery/ children’s church space 3 sites to operate Temporary option will use resources from 2 campaigns Note the possibility that we could add back the preschool/ nursery space, but that the redesign would take 608 months and we possibly would not have enough when we bid as even higher costsNote the possibility that we could add back the preschool/ nursery space, but that the redesign would take 608 months and we possibly would not have enough when we bid as even higher costs

    9. Build Education Space Only Pros Preschool Discipleship ministries enhanced No need to rent WCDC Cons Less excitement Smaller influx of new people Worship and education still at 2 sites Worship will be held at current or alternate site Cons Worship and education will be at 2 sites no matter which option we choose. Cons Worship and education will be at 2 sites no matter which option we choose.

    10. Things to Consider Phase 1 Worship Space was “temporary” and only large enough to accommodate current attendance Consider building use throughout week, not just on Sunday Keep our Outreach to community expanding Should we minimize debt in Phase 1 to accelerate ability to begin Phase 2?

    11. Alternate Worship Site Nothing has been decided yet Team led by Deb Olson, Lay Leader, to evaluate current worship and make recommendation Cosby High School is one option being explored Congregation will have an opportunity to hear recommendation and to discuss options prior to a decision being made Cosby High School issues being discussed: Pros: unthreatening environment for those not familiar with church 900 seats, great acoustic and A/V capabilities Allows us to expand attendance, providing a larger base for next capital campaign Cons/Issues: nursery, children’s worship, possible length of time at this location, no holiness factor, cost of approx. $40,000 per year to rentCongregation will have an opportunity to hear recommendation and to discuss options prior to a decision being made Cosby High School issues being discussed: Pros: unthreatening environment for those not familiar with church 900 seats, great acoustic and A/V capabilities Allows us to expand attendance, providing a larger base for next capital campaign Cons/Issues: nursery, children’s worship, possible length of time at this location, no holiness factor, cost of approx. $40,000 per year to rent

    12. Open Forum

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