Building Update 099
“A New Way Forward”
May 12, 2023
I am going to make this update short & sweet! Today, I would like to “piggy-back” on Pastor Jenn’s recently sent-out email entitled the same, “A New Way Forward.” This is about as important of an email as it gets, so please read!
As the Building Project Leader, I am in a unique position to see all the “nitty gritty” details that go into moving the project forward. It is painstaking and it is tedious to make sure we have all of our bases covered all of the time, and we just got thrown a curve ball. The external financing piece has always been the long pole in the tent from the very beginning, and even though it is the last major piece of the of puzzle before we can turn our General Contractor (GC) loose, it was and still is the toughest “nut” to crack.
All that being said, Ashley Ridge Church “fam” is tough, too! There is an old saying, “when the going gets tough, the tough get going!” We are working on “A New Way Forward” BUT, one thing we can all do now to expedite financing for the project is to increase our Reserve Fund (thereby increasing our liquidity). That’s what banks are looking for in the current environment.
I am encouraging everyone to make an extra contribution this month to build our Reserve Fund to $500K from where it is now which is approximately $350K. The larger our Reserve Fund the better shape we are in to receive that pesky & elusive Construction Loan needed to break ground on our new Facility & Campus!
SO, if you would like to make a contribution to building the Reserve Fund via the Building Fund or General Fund, you can do so here.
Derrick Horres, AR Building Project Leader