Since this building project began we have been able, by the grace of God along with your generosity and sacrifice, to pay cash for the purchase of the property, blue prints, and other miscellaneous expenses that have been a part of getting to where we are today in the development of the Trinity Point Church of God.
Since we made the announcement last May 2011 that the building project was budgeted to cost $4 million, the Finance Team has been exploring all kinds of options and looking for creative ways to finance this project.
Our original plan was to break ground last August and start the facility ASAP. In other words, if we would have followed that timeline, we would currently be under construction, however, it seemed at every turn there were significant obstacles and our plans did not come to fruition at that point in time. That’s why the Bible says, (Prov 16:9 NIV) “In his heart a man plans his course, but the LORD determines his steps.”
The Lord had another plan, and it took several months of prayer, meditation, and due diligence to discern what God was doing and speaking to the Finance Team, and then to communicate it to you. (Prov 15:22 NIV) Plans fail for lack of counsel, but with many advisers they succeed.
In their meeting on January 19, 2011 the Finance Team along with the Building Committee came to this conclusion:
1). We need to be fiscally responsible. With the money we currently have available from savings and the CFC, about $750,000.00, we should start the project and go as far as we can in construction doing it in 4 phases. This was suggested and recommended by Delta Contractors as well and agreed upon by the Building Committee.
Phase 1): Pad ready, all the site preparation done in first phase and paid for.
Phase 2): Get building up and under roof and paid for.
Phase 3): Complete interior of building. This will add time to the project, but will also save $2 - $2.5 million in the process in interest if we would finance $3 million over twenty years. If we stretch it out 36-48 months, we will be able to generate more Capital Funds to invest in the building project. The more we can pay as we go, the more we will all save in interest on a loan and also this will eliminate the need for continuous Capital Funds Campaigns (CFC) once we are in the building if we do not have to borrow. Please be advised, however, this timeline has to be flexible based upon our ability to raise the necessary funds to build and that, in turn, will determine also if we need to borrow money to complete the building project.
Phase 4): Paving of the parking lots and driveways, landscaping and all necessary finish work for completion of the site.
3). Borrow, only if necessary, we will be assessing carefully all the way through the project to make the necessary arrangements, and if necessary, do a conventional loan to complete the project. We will be working on this as we are into phase 2 and preparing for phase 3.
4). Go into another Capital Funds Campaign (CFC) that would begin in October 2012 for 3 years. Please make sure you continue with your current commitment. Then in October of this year 2012, we will start a new CFC. This will help us to manage the planning and scheduling of the construction phases as we build the facility as well as give the Finance Team and the Business Department the ability to get a timeline together for financing, if needed, the completion of the project. It will give others that were not previously a part of our church family the opportunity to participate in a new CFC.
5). Savings realized: We will realize savings from the construction part of the loan. For example, if we borrowed $3 million dollars over twenty years, we would pay approximately $250,000.00 over the 18-24 month construction phase of the facility on interest only. Additional interest on a 20 year loan of $3 million dollars would be approximately $2-$2.5 million. The Finance Team believes that it would be irresponsible for us to spend all those ministry dollars on interest.
The Teams collectively thought there were better alternatives when we first started into the financing of this project. I believed in my heart for several months now, and I think I mentioned it once in a sermon, that we have the resources among us, and if we are willing to make the sacrifices necessary, we can move into the new facility debt free. I believe that is what God was laying on my heart and the hearts of our Finance Team. That is a real possibility and we will see how God works it all out. No one on the Finance Team had a good feeling about borrowing $3 million. After the meeting on Thursday, January 19, 2012, we believe the Spirit of the Lord was leading us to this conclusion.
I want to thank the Building Committee and the Finance Team for all their prayers, seeking out the will of God, and the sacrifice of their time and talents. They are doing an awesome job and we still have a long way to go, but we are definitely going in a direction that God wants us to go.
Building Committee Finance Team
Clyde Bish: Chairperson Brent Long: Chairperson
J.J. Ferguson Jim Kriebel: Co-Chairperson
Joe Ferguson John Rupert
Jim Christie Matt Lerch
Brent Long Brian C. Burford
Judy Wilson Shane Kriebel
Jonathan Spencer Scott Allen
Nancy Jeannerat Mike Johnston
Pastor Bruce Pastor Bruce
God bless you all as we step into the water together (Joshua 3:13),
Pastor Bruce
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