June 16 Building Update 052
“A Really BIG Deal”
Sooooo much is happening on the building front these days. I’m not going to be able to cover it all in one building update, two or even three! Fortunately, we have a Family Meeting, Part Two coming-up on June 27th where Pastor Jenn will give you all the latest exciting news and details. There will be time for Q & A as well. BUT, I can tell you this much, it’s going to be “A Really BIG Deal” and many of the missing pieces we have been looking for since the very beginning of the project are starting to fall into place.
Financial Report. I will attempt to scratch the surface on some of the latest project news, but first a quick financial report. We had a solid giving month in May with the below:
$2,284.60 Building Fund + $60,571.38 General Fund = $62,855.98
June has started out slower with the following giving numbers as of June 14th:
$1,290.56 Building Fund + $18,173.73 General Fund = $19,464.29
Project News. Garrett Reuber, Finance Team Leader, is working on a Line of Credit (LOC) for the next phase of the building process which is the Pre-Construction Phase. During this phase, Equip Studio will be finalizing the building design/site lay-out and Cypress Engineering will complete the civil engineering work. This will allow AR to apply for the permits needed to begin land preparation.
The permitting process has a long lead time of 4-6 months, so we will use this time to the fullest extend to pay-off/pay-down the LOC and keep it available for future building expenses. If we are successful in getting the LOC and keeping it paid-down as we go, it may be possible to ride the LOC all the way to where we receive the construction loan and “go vertical” without having to hit pause for temporary funding, i.e. floors and walls and doors, oh my!!!
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