Building Update 102 – “Project Progress & Financial Report”
July 6, 2023
I hope everyone had a fantastic July 4th Celebration! We are truly blessed in so many ways to live in this great country! As I mentioned in my last update, we are in the Summer of Liquidity where we are making a focused effort to increase our financial position & liquidity in preparation for constructing our permanent homebase. And, we continue to grind-out hard-fought progress on the building front!
Project Progress. These are NOT just words on paper as we (AR Building Team) have made significant progress across the board in the past few weeks:
-Met with Dorchester County Water Authority (DCWA) and received permission to run one 8”waterline to AR property from Hwy. 165 vice two lines which would have been much more costly
– Cypress Engineering, LLC is moving forward with Civil Permitting to secure required permits for land disturbance & sitework
-Working with a local bank to “seal the deal” on the construction loan in the amount needed to build Phase I facility & campus
-Increasing AR Liquidity with the Summer of Liquidity in preparation for paying building costs not covered by the Construction Loan and/or Margin
Financial Report. It’s been a while since I gave a Financial Report, so I thought I would take the time to give everyone the latest giving numbers (see below):
-Contributions for June: $82,729
-Contributions for 2023 (YTD): $465,785 or 54.6% of Comp
-Building Fund Balance: $20,897*
*Summer of Liquidity goal to increase the Building Fund to $100K
Hard to believe but we are already halfway through the year! AND, we want this to be the year we break ground!!! We can do this, T-O-G-E-T-H-E-R!!!
SO, if you would like to make a contribution to help AR increase its Liquidity via the Building Fund (or General Fund), you can do so here.
Derrick Horres, AR Building Project Leader