Thought you might appreciate an update on the building today.
The board believes that it is going to cost $900,000 to get into our building in a usable fashion -- not completely finished with furniture or flowers, but usable.
We were guaranteed a 5.95 interest rate (locked for only five years) for a $900,000 loan by a local bank today. We could pay interest only for the first nine months (during construction) and then the payments would be $6400. For a three-year lock, it is 5.75. One year is 5.35.
We have a lot of costs to analyze and a lot of other financial people to talk to, but these figures say that this thing is doable for us. The bank was very happy with our collateral and financial statements.
Also, if you stop by the land, you will see some clearing going on where the construction team has selected the best site for our Plan B Building.
Keep praying.
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5 years ago
1 comments:
Awesome! I think that we need to continue to give of our first fruits even with the current economic downturn. There are over 65,000 people in our county. Let's do all that we can to present Christ to them in extra-ordinary ways. This will be tough for many... But we serve a big God. Let's not forget what HE has already done in two years. We have almost 9 acres of land on the 67 corridor paid off!!!!!!
He's BIG. Let's do all that we can to present His grace to more people. Let's pave the way for future people in St. Francois county to experience God years from now. Let's leave a legacy that gives God glory!!!
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