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Campaign Update – Dec 2015

December 15, 2015
15 Dec 2015

Capital Project Update

Over the past year, our Facility Master Planning Committee (FMPC) has been hard at work developing detailed plans of our expanded facility, working closely with our architect, WKWW, and contractor, Clancey & Theys. At the November church conference, the FMPC updated our congregation on several key elements of our proposed Capital Project. You can view updated renderings of the facility plans under the Planning section of this website. Also, an estimated project timeline was presented which includes town hall meetings in January, in addition to our January Church Conference, for the membership of the church to continue to be informed on the particulars of the project. Our timeline indicates at this time a major church vote regarding the project in the March timeframe. If the church chooses to move forward we could expect to begin the project in May/June.

FMPC e-mail : TBCFMPC@gmail.com

Your comments and questions regarding our capital project is needed! The FMPC has established an e-mail address to collect comments and questions regarding the capital project. The committee will use this input, comments and questions in preparation for the upcoming town hall meetings (planned in January). Please send your comments, questions or other thoughts to TBCFMPC@gmail.com

Click the image below for a larger rendering of the updating drawings:

 

Project Cost Update

The initial estimate for our project was an architectural estimate of 7 million dollars. Our Capital Campaign was designed to address this estimate and provides the funds for completion. As we have worked with our pre-construction team from Clancy and Theys, we have been able to get a new estimate on the true cost of the project. Due to inflation and constantly rising construction costs in our area, the new price is 8.9 million. In addition, we have identified another $600,000 dollars in Capital Upgrades that have been delayed as we have been planning this major project. In consultation with the Trustees, Treasurer and Assistant Treasurer, we have identified the following current sources for the project. They are:

4 Million Dollar Capital Campaign (Deepen The Ties that Bind)

3 Million in Construction Loan as agreed upon in Church Conference

1.5 Million in Budget Giving which has been set aside after retirement of the debt on Children’s Building and ROC

This leaves us with a 1 million dollar challenge at our current estimate. The Trustees are studying this situation and are in conversation with our Treasurer and Finance Committee concerning our way forward. At the same time, our Facility Master Planning Committee is continuing to finalize our drawings to create a firm bid for construction. All of this will lead us to some important decisions after the first of the year.

 

Campaign Receipts Update

Our church continues to be faithful to our pledges . As of October 31, 2015, campaign pledges total $4,161,670.   Receipts against pledges total $1,419,782 and total receipts total $1,544,627. Overall, we are on track with receipts, considering that $3.6M was pledged over 4 years and the balance from our largest pledge expected within an additional year. Our midway point in the 4 year campaign is soon approaching and a report on campaign giving will be prepared early in 2016.