Building Goals Stay Downtown Keep Costs the Same Increase our Space Why a Building, Why Now? Tangibles: Timing Building space had already been identified. This building was sold as we were investigating it Lease runs our September 1 Why a Building, Why Now? Tangibles Stewardship Current costs are $5200 for rent & utilities. 10,000 sf on Sundays, 5000 sf all week. Elks Building is over 17,000 sf As a comparison, costs to be in the Elks building will be around $5000/mnth (mortgage/utilities/maint/Ins.). Why a Building, Why Now? Intangibles Discipleship and Ministry It will allow for expanded ministry by people for people through Creekside. It will be a resource to serve the church family It allows us for expanded numeric growth Why a Building, Why Now? Intangibles Legacy It will provide a stable, long term resource to see the gospel go out in this area for years to come. It will free up resources in the future for ministry. Construction Committee Paul Betts Ed Erion Curtis Wright Mark Newman Nathan Knottingham Dave Hays Inspections Structural MSC Engineers Electrical Northside Electric HVAC Salem Heating & Sheet Metal Fire Sprinkler Western States Lead/Asbestos Alpha Environmental Water Intrusion/Building Envelope Forensics Building use CBTwo Architects Purchase Status Due-Diligence Period Final Negotiations Closing Date Requirements Date able to occupy March 10, 2016 Our current lease ends Sept 1, 2016 Repair addendum Roof and Kitchen Corner of 4th andEvans 4th Street Evans Street The Building Ground Floor Building Purchase Purchase Price - $640,000 = $37/sqft Financing the purchase: First Federal 75% loan on purchase price Terms 15yr/25yr amortization Mortgage payment 25 yr - $2,834 Mortgage payment 15 yr - $3,820 Remodel Needed Remodel Needs Ballroom End walls and Fellowship separation Kitchen minor, just some cleanup and order Offices rework layout add conference Restrooms modify upstairs and add total new downstairs Fellowship Expand and update Downstairs add classrooms and create open area Canopies removed and/or updated Remodel Schedule Design CompleteFebruary 28th Receive PermitMarch 31st Begin ConstructionApril Finish ConstructionAugust Move inMid August Full Remodel Budget Down payment/Financing $170,570 Design/Permit$75,000 Construction$810,000 Furniture$35,000 Total$1,090,570 Partial Remodel Budget Down payment/Financing $170,570 Design/Permit$75,000 Construction$400,000 Furniture$35,000 Total$680,570 Current Building Fund What has already been given towards the building and sits in a fund today? Building Fund Account $ 538,000 Remaining Funds Needed Full Remodel $ 552,570 Partial Remodel $ 142,570 Giving Options One time lump sum Commitment pledge Close & Pray