The Project
What we have already done is bearing fruit: The new Gathering Space has already made a big difference in the time we spend talking with each other and with visitors. The elevator has opened access to the building to many who weren’t able to visit these areas before. The air conditioning provides comfort and welcome in the summertime. These enhancements have opened doors to people anew. And with these come opportunities to reach out to our community in new ways.
Current debt of $1.35 million limits full promise of our opening door ministry. While we work to open the doors to the future, we need to continue to be faithful to the commitment we made when we began the Imagine, Engage, Become project: to continue to pay down the debt on the remaining balance of the loans that were secured to do this much needed work. The 2.5 million dollar project is completed and one million dollars was raised to finance the project. On the remaining debt of 1.35 million dollars, approximately $40,000 on average will be paid in interest each year if we pay down (amortize) the mortgage as scheduled. Now, we seek to reduce the debt.
Funding
If we can raise those funds over three years, then we would save $800,000 over the 20 year life of the loan! Imagine the doors to the future we could open if we could pay down and eliminate these obligations! Imagine what we can do for Christ!