The initial Surge & Stretch Challenge campaign dates of March 22 – May 31 have come and gone with the following results. Drum roll please!!! Dddrrrrrrr! Surge contributions TOTAL: $75,221.72 Thanks to your generous support! Due to the coronavirus pandemic and financial crisis the Surge & Stretch Challenge 2020 has been extended until the end of the year but will be more focused in its efforts to attain specific results which are crucial to the For SVL Building Project.
“Forward Together” will be the start of a new Surge initiative for the summer of 2020 with the following mission:
To focus attention, communications and Surge contributions toward paying-down/paying-off the land loan secured by the 10 acre building site in Summers Corner between the dates of June 1 – August 31st.
Paying for the land is critical to the success of the For SVL Building Project and for keeping to the build timeline for the following reasons:
- Since the construction loan will be collateralized (secured) by the land and future building, it is necessary the land be unencumbered (paid-off) prior to seeking the construction loan
- The land purchased in 2017 for $450,000 was recently appraised in 2019 for $550,000, therefore, once the land loan is paid-in-full, the church will have significant equity in the project and a track record of meeting and exceeding its financial obligations
- AR is paying mortgage interest on the current loan principle and when paid down/paid-off, the savings, could be put to good use in the building project or operating account
If you would like to make a contribution to the Building Surge, you can do so via the church website ashleyridgechurch.org and click on Give.
Derrick Horres, Project Leader