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LAND HO!!!! Caledonia UMC |
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ABOUT US |
Caledonia United Methodist Church Building Committee TimelineHere is a recap of where our building committee has been: - May, 2002 – Charge Conference approved the purchase of land on Kraft Avenue and elected a Building Committee - June, 2002 – Fund raising began. - September, 2002 – An option was signed to purchase the land at 8524 Kraft Avenue. - November, 2002 – Miracle Sunday raised 91,800 dollars. - December, 2002 – A sign was placed on the Kraft property and dedicated. - March, 2003 – Caledonia UMC hired a consultant for a readiness study. - August, 2003 – Consultant’s readiness final report to congregation. - September, 2003 – Land contract signed. - November, 2003 – Contracted with architectural firm to prepare conceptual design. - April-May, 2004 – Conceptual design presented to congregation for input. - June, July, August, 2004 – Building Committee visited other churches. - March, 2005 – Revisions of conceptual design. - December, 2005 – Celebration of paying off land contract. - February, 2006 – Status report from Building Committee to congregation. - March-April, 2006 – Meeting with Committee on Finance regarding investment of building fund money. - May-June, 2006 – building Committee reviews information for borrowing money from banking institutions. - October, 2006 – Building Committee reviews loan options. - November-December, 2006 – Creation of a survey seeking direction from congregation with regard to building plant size and specifications. - January, 2007 – Survey is distributed. - February-March, 2007 – building Committee evaluated surveys and reported findings to the congregation. "Report from the Building Committee – January, 2007 Survey: We appreciate the feedback the congregation has provided on the new building project. The general consensus was to move toward a design that would include a multi-purpose room as a temporary sanctuary. At this point, based on your input, we feel our efforts should be directed toward a capital fund campaign. This campaign will be geared towards the square footage of 15,000 square feet. Accomplishing the goal of securing funding for this size facility will allow us to expand our programming and congregational size. Thank you for your participation." - May, June, July, August – Options for shared ministry with various agencies have been and are being explored, as well as plans for reconsideration of site design and further site visits. - Coming Soon – Strategic Planning for our next steps in building bricks & mortar and in building programs & ministries. Question: Why haven’t we started to build a new church yet? Answer: While we have been able to pay off the land earlier than we’d planned, we haven’t been so fortunate to be able to raise the funds necessary to begin construction. Further, the Breton Group Survey has instructed us not only to pay the land off before building, but to build programs. Hence, new building becomes a two-fold process; working toward a new building and expanding ministries and outreach. It is through new programs and outreach that we will increase our participation, and hopefully begin to accumulate enough funds commitments to support the construction and increased monthly expenses that we would incur with a larger building. Q: How much will a new church cost and can‘t we get a loan? A: Based on the most recent survey of the Congregation, the Building Committee estimates the cost to build (Option 3) a 15,000 sq ft building with a combined sanctuary/gymnasium, offices, and classrooms etc. to be approximately $1.4 million. That number does not include furniture, sound systems and other necessary items. Based on conversations with bankers, we have enough cash on hand and collateral to be approved for a loan. However, considering our current financial situation, we would not be able to afford the monthly payment. Q: How much money do we currently have in the Building Fund? A: As of August 2007, the Building Fund cash value is approximately $185,000. Q: How much is our current church worth? A: A very rough estimate for the church is $350,000. The parsonage is worth an estimated $160,000. However, proceeds from the sale of the parsonage must either be put toward another parsonage, or possibly invested in an endowment from which the interest earned could be used toward a housing allowance for the pastor. The Building Committee has recommended that the Trustees Committee obtain an appraisal to reflect a more accurate, up-to-date value. Q: How much more do we need to raise to be able to start building? A: Assuming the values above are accurate, if we were to sell the existing church ($350k) and liquidate the building fund ($185k), we would have approximately $535,000 in cash. With an estimated project cost of $1.4 million, we would still need to raise $865,000. If we were to get a mortgage (30 yrs/8% interest) for this amount, our monthly payment would be approximately $6,350. For 2007, our average monthly donations to the Building Fund, after removing a couple lump sum donations, have been about $675/month. Alternatively, based on a $675 monthly payment, we would need to raise another $773,000 in cash. In other words, all we can borrow on a $675/monthly payment is $92,000. Q: So, when? A: It is our opinion that the members of our church currently need to direct our primary concern to the financial situation as a whole. This doesn’t mean we should stop thinking about, praying for, and giving to the Building Fund. But, we do need to become more financially stable, which includes paying our bills, paying and back-paying our apportionments, and building a general fund reserve. This will occur when we have an increase in participation/giving, and when we, the congregation set about building up our church outreach and programs, as suggested by the Breton group study. Please feel free to direct any further questions to members of the Building Committee. Thank you for your time and consideration. Your Building Committee Rich Overmire | |
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Caledonia United Methodist Church |
