Goals Stay Downtown Keep Costs the Same Increase our Space Why a Building Why Now Tangibles Timing Building space had already been identified This building was sold as we were investigating it ID: 624418
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Slide1
Building Slide2
Goals
Stay Downtown
Keep Costs the Same
Increase our SpaceSlide3
Why a Building, Why Now?
Tangibles:
Timing
Building space had already been identified.
This building was sold as we were investigating it
Lease runs our September 1Slide4
Why a Building, Why Now?
Tangibles
Stewardship
Current costs are
$5200
for
rent & utilities.
10,000
sf
on Sundays, 5000
sf
all week
.
Elks Building is over 17,000
sf
As a comparison, costs to be in the Elks building will be around $5000/
mnth
(mortgage/utilities/
maint
/Ins.). Slide5
Why a Building, Why Now?
Intangibles
Discipleship and Ministry
It will allow for expanded ministry by people for people through
Creekside
.
It will be a resource to serve the church family
It allows us for expanded numeric growthSlide6
Why a Building, Why Now?
Intangibles
Legacy
It will provide a stable, long term resource to see the gospel go out in this area for years to come.
It will free up resources in the future for ministry.Slide7
Construction Committee
Paul BettsEd ErionCurtis Wright
Mark Newman
Nathan
Knottingham
Dave HaysSlide8
Inspections
Structural – MSC EngineersElectrical – Northside
Electric
HVAC – Salem Heating & Sheet Metal
Fire Sprinkler – Western States
Lead/Asbestos – Alpha Environmental
Water Intrusion/Building Envelope – Forensics
Building use –
CBTwo
ArchitectsSlide9
Purchase Status
Due-Diligence PeriodFinal NegotiationsClosing Date Requirements
Date able to occupy – March 10
,
2016
Our current lease ends Sept 1, 2016
Repair addendum
Roof and KitchenSlide10
Corner of 4th andEvansSlide11
4th StreetSlide12
Evans StreetSlide13
Evans StreetSlide14
Evans StreetSlide15
The Building – Ground Floor
6
4
2
1
3
5
7Slide16
The Building – Ground Floor
1
4
3
2
5Slide17
Building Purchase
Purchase Price - $640,000 = $37/sqftFinancing the purchase:
First Federal
75% loan on purchase price
Terms 15yr/25yr amortization
Mortgage payment 25
yr
- $2,834
Mortgage payment 15
yr
- $3,820Slide18
Remodel Needed
Remodel NeedsBallroom – End walls and Fellowship separationKitchen – minor, just some cleanup and order
Offices – rework layout add conference
Restrooms – modify upstairs and add total new downstairs
Fellowship – Expand and update
Downstairs – add classrooms and create open area
Canopies – removed and/or updatedSlide19
Remodel Schedule
Design Complete
February
28th
Receive
Permit
March
31st
Begin Construction
April
Finish
Construction
August
Move
in
Mid
AugustSlide20
Full Remodel Budget
Down
payment/Financing
$170,570
Design/Permit
$75,000
Construction
$810,000
Furniture
$35,000
Total
$1,090,570Slide21
Partial Remodel Budget
Down
payment/Financing
$170,570
Design/Permit
$75,000
Construction
$400,000
Furniture
$35,000
Total
$680,570Slide22
Current Building Fund
What has already been given towards the building and sits in a fund today?Slide23
Building Fund Account
$ 538,000Slide24
Remaining Funds Needed
Full Remodel $ 552,570
Partial Remodel
$ 142,570Slide25
Giving Options
One time lump sumCommitment pledgeSlide26
Close & Pray