Campaign Plan Update to Congregation from Kevin Gerdes, Co-Chair: February 10, 2019
A year ago I stood before you as Co-Chair of a $12M Capital Campaign to support our congregation’s long-range comprehensive plan. That plan would support our growing ministries by:
Building a Fellowship Hall and Gathering Space;
Expanding our parking lot and reducing the walk to our sanctuary;
Connecting the Sanctuary to our Youth & Sports Center for youth education;
Providing additional space for our growing Community Resource Center
Our $12M campaign also included plans to reduce our long-term debt.
These were our goals – all accompanied by 1 promise to NOT take on any new long-term debt
Before Christmas we celebrated that we had received $12M in pledges & gifts – more than double the amount of campaign pledges ever collected in the 98-year history of St Andrew’s!
Today I want to share with you some of the realities of what we have learned over the past few months of working with our extremely competent and committed building committee & finance committee staff and volunteers, architect, and bidding general contractors
Since $2M of our $12M has been generously donated as a deferred gift, we want to be responsible stewards and plan for its use in the future
Our construction bids included some unforeseen environmental and higher construction costs that reflect our site conditions and current market.
We are working with the church council to reduce enough debt to cover added expenses associated with new facilities.
These financial realities, and our commitment to NOT take on any new long-term debt, have convinced us that we will likely have to phase our construction projects over a longer time-frame than expected.
So…our plan for the next month is to work with our contractor to finalize construction costs, gain church council approval, and come before you in March to seek your approval for short-term construction financing and proceed with a phased plan for construction this spring.
If you have not yet pledged to the capital campaign, we still welcome your gift. If you have pledged and are able to front-load your donation – it will help us to reduce costs associated with short-term construction financing.
This is an exciting time for our congregation as we seek to move forward with construction of new facilities that will support our expanding missions. While we are disappointed that we cannot proceed with all phases of construction in the short-term, we are grateful for your generosity and to the commitment of our volunteers who are helping us to be responsible stewards of your gifts. HOPE LIVES is more than just a campaign slogan. It’s what St Andrew’s is doing and your generosity is making a difference in our community and across the globe. Thank you!