Update on Capital Campaign
Last month, we gave you an update on the progress of our potential building project. This month, we'd like to share some of the events that have happened since that time, as well as our timeline for the next few months.
As mentioned last month, the feasibility study conducted by Craig Miller (Horizons Stewardship) suggested that our total capacity for a Capital Campaign would lie between $1.5-$2.5M. This target was incorporated into the financial model for the potential building project. Our owner's rep (Andy Hesterman of LCEF) has since received the architectural drawings that we were waiting for, and has made a request for proposal (RFP) of several local builders of good reputation.
We anticipate receiving their bids to complete our project within the next two weeks, and then our Construction Advisory Committee will meet to select a General Contractor for the project, giving us "firmer" construction costs to use in our financial model.
In March, a Capital Needs Assessment (CNA) will be conducted for the entire site, giving us an accurate picture of what needs to occur as part of the renovation, as well as the urgency of each item, should we need to move the project forward in smaller phases.
Results in-hand, any required "Value Engineering" will occur, and then results will be shared with the Congregation through a series of Town Hall Meetings in April.
In May, the Congregation will be asked to vote on moving forward with the Capital Campaign and the Building Expansion/Renovation project.
We've included a snapshot of the timeline for the project as we see it today. This is tentative, but it is our best "educated guess" as we continue to move forward. May God continue to bless Holy Cross richly as we seek to follow Him and to grow the Kingdom!
