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Central Park Plaza

Central Park Plaza. Faith Bible’s First Ever 24/7 Worship Facility. How did we get here?. What are the details?. 3 year lease Year One: $6,082/mo Year Two: $6,356/mo Year Three: $6,630/mo What did the school/office cost: $6,100/mo 4 month abatement Months 1-2: Free

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Central Park Plaza

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  1. Central Park Plaza Faith Bible’s First Ever 24/7 Worship Facility

  2. How did we get here?

  3. What are the details? • 3 year lease • Year One: $6,082/mo • Year Two: $6,356/mo • Year Three: $6,630/mo • What did the school/office cost: $6,100/mo • 4 month abatement • Months 1-2: Free • Months 3-4: $2,794/mo • Initial security deposit/first month’s rent: $8,894.38

  4. What are the details? Owner will replace one of the two HVAC units. Owner will present the facility to us in “good working order.” Once lease begins, we are responsible for repairs & renovation. Exception: We will be responsible for $1,000/unit/year in HVAC repairs, if needed. We are responsible to maintain HVAC service contract.

  5. Why do this? Does your family NEED a roof over its head?

  6. What are the possibilities?

  7. What will it take to renovate? Flooring: $3,945 150 Chairs: $3,300 Paint: $2,400 Outdoor Sign: $4,000 Glass Stenciling: $300 Mop Sink: $200 Projection Screen: $350 Projector: $500 Microphone: $700 Décor: $2,000 Total: $18,000

  8. What will it take on a monthly basis? 6 month giving history Cost v. Average • May: $17,190.83 • June: $18,742.40 • July: $17,483.00 • August: $14,786.00 • September: $20,820.01 • October: $14,776.75 • 6 month giving average: $17,299.63 • Fixed cost (salaries & insurance): $17,135.00 • 15%

  9. Faith Bible Church

  10. Faith Bible Church

  11. Faith Bible Church

  12. Timeline Vote Next Wednesday Execute lease: November 14th Commence Renovations: December 1st First Service: Christmas Eve, 2013.

  13. Together

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