Building Update 049 – Family Meeting and Financial Review

              May 11                Building Update 049   

     “Family Meeting & Financial Review”

Family Meeting.  If you haven’t heard already, I want to make sure you know the time and date for the next Family Meeting on May 23rd at 6 pm.  Please put this important event on your calendar!  The meeting will be in-person at Ashley Ridge High School (Lobby) and be carried LIVE on the AR app and YouTube channel.  You will be able to ask questions in-person or virtually!

Also, for the past two months, church leadership has been in discussions and negotiations with Lennar on ways to mitigate the high cost of developing the AR property on Summers Drive, specifically increased costs for land preparation and bringing utilities to the site.  The results of these meetings with Lennar which we should know very soon will be covered in detail at the Family Meeting.  Furthermore, I want to give you a quick Financial Review of the building project to date.

Financial Review.  Since the start of the Surge & Stretch Challenge last year, the Building Surge/Fund has generated $216,259 in contributions as of 4/30/2021.  These funds along with Margin created in the Operating Account from the Operating  Budget “Freeze” at the beginning 2020 and cost savings from the pandemic and subsequent shutdown is what allowed AR to pay-off the 280K land loan balance and establish a 100K Reserve Fund.

In addition to paying off the land and establishing a Reserve Fund, AR has paid $54,690 in building related expenses to the following:  1) Parker Land Surveying, LLC  2) Equip Studio  3) Terracon Consulting and 4) Cypress Engineering

With the above, all the 2020 building and financial goals have been completed or met, and we are ready to move into the next phase of the building process. We will have more on this and all the latest building project news at the Family Meeting on May 23rd!

If you would like to make a contribution to the General Fund or Building Fund, you can do so here.

Derrick Horres, AR Building Project Leader    

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