The builder is under contract to deliver the new Family Life Center for $1,310,000. Additionally, the New Building Construction Committee is authorized a budget of $40,000 to cover any items not in included in the construction contract or any changes to the building the church might identify during construction. To date these items include the cost to correct the unsuitable soil issue, and purchase of the kitchen appliances.
The loan package with Union Bank & Trust allows us to borrow up to $750,000 and we currently have just over $710,000 in our New Building Fund. Since the approved budget for the building is $1,350,000, the maximum amount we will actually have to borrow is $640,000. The final amount of the loan will likely be less since we continue to receive donations to the building fund.
Our builder is scheduled to turn over a finished building in mid-August of this year. It will include the typical built-ins plus a large ceiling mounted projector screen and stage curtains for our dramas and musicals. The necessary sound equipment is not included nor are tables and chairs. As the completion date draws nearer, the New Building Committee will be seeking the church’s guidance regarding these items. A total of $1200 has already been donated for the audio equipment. The furnishings in the existing social hall may be used if desired.
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