Pledge Fulfilment
A Note from Hendree
We are fully engaged with Dean Builds Construction Management Firm to build our new parish hall. For a couple of months, we've been in a relatively quiet phase of finalizing our contract with Dean Builds and working on the details of the first phase of construction. Now we are ready to get to work! Dean Builds is already getting ready for ground breaking which we expect to happen in late summer around the 100 year anniversary of the first worship service in our current space. The renovation work on our current building to include roofing and masonry repointing and the construction of our new parish hall will make for an exciting and adventurous year in the life of our parish and school. Now is a great time to begin making payments on your parish hall pledge. If you haven’t yet had chance to make a commitment to the capital campaign you are welcome to join our Building Together campaign now. The future is bright at Good Shepherd Church!
A Note from our Treasurer, David Young
As Treasurer, I want to provide a brief update on our financial strategy for the parish hall project. We currently have $3.5 million in cash and $3.8 million in pledged gifts, reflecting strong parish support and a history of exceeding pledge commitments. Because construction will occur over one year while pledges are collected over three years, we are pursuing a flexible line of credit to bridge this timing difference. We are also prudently planning for a potential project overrun of approximately 15%, which is consistent with projects of this scale as design and construction details are finalized with our architect and general contractor. We are evaluating an option to convert any remaining balance into a short-term loan if needed. In addition, we are pursuing historic tax credits that could generate approximately $300,000 to help offset costs. This balanced approach allows us to move forward responsibly while preserving long-term financial strength.
Fulfilling your commitment
As we approach our start date for construction, we are taking the necessary steps to prepare for the significant outflow of cash resources required to pay the costs of architect's, construction management, and contractor's fees. Due to the extraordinary generosity of lead givers, the parish has nearly 50% of our pledged campaign dollars in hand. Any sense that we can gain for how pledgers plan to fulfill their remaining commitments will help us to schedule short term construction lending and cash management strategies throughout the course of the project. With that in mind, please consider how and with what frequency you and your household intend to approach making pledge contributions, and take a quick moment to share those intentions with Scott Heersche, our Director of Operations and Finance. Scott can be reached in person or by phone at the church office, and through email at DOF@gslex.org.