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April 2009 Legacy Bridge Update
It is intended to provide monthly updates for our Legacy Bridge building project. We feel it is important for First Church Members and non-Members to stay informed with the major activities to provide a constant status of the project.
Last month it was reported that closed bids were to be sent or delivered to First Church by 5 p.m. Tuesday, April 7 and those bids were going to be opened privately by our Building Team and our architects that evening. Because of the flooding in the Bismarck/Mandan area, contractors submitting bids requested an extension of one week. So the bids were opened the evening of April 14. Our Building Team and our architects were pleasantly surprised with the bids expecting they could have come in much higher. The lowest base bid came in at $3,800,000. There are additional alternate bids being considering plus some outstanding architect and engineering costs that will be incurred yet. At this point, we are planning on total project costs of $4,100,000. The bids equate to about $135 per square foot which is nearly the same as was quoted to the church in 2000 when building was first being considered. The bids are good for 30 days although a 30 day extension can be requested which we will most likely do because there are a number of items that must be completed, including a special Charge Conference, before bids can be accepted.
The next step in the process is to request proposals from various financial institutions for the construction loan and the permanent loan. The financing team has created a Request For Proposal (RFP) that will be sent to the financial institutions along with a number of financial documents including budgets and financial statements for the past 3 years along with our 2009 budget. Eight financial institutions have been selected to receive our RFP. We are asking these financial institutions to submit their proposals within two weeks of receipt of our RFP. We will then need to narrow the field and determine which financial institutions we will meet with directly to negotiate the loans. This process must be completed before we hold the special Charge Conference.
God Continues to Lead
So far we feel God hasn't closed any doors yet, so it is our duty and call to press on. There are words from an old hymn that says, "Where He leads me, I will follow. No turning back, no turning back." God continues to lead, we must follow.
May 2009 Update
It is intended to provide monthly updates for our Legacy Bridge building project. We feel it is important for our entire congregation to stay informed with the major activities to provide a constant status of the project.
As reported last month, the bids for the Legacy Bridge building project have been received and reviewed. The lowest base bid came in at $3,800,000. There are additional alternate bids being considered plus some outstanding architect and engineering costs that will be incurred yet. At this point the bids are suppose to be good through June 12, 2009. Notice has been given to the lowest bidders that we are in the process of securing financing and that we may not be in a position to accept the bids by this date.
The finance team sent a Request For Proposal (RFP) to seven banks and one credit union in the area. Three of the banks and the credit union elected not to submit a proposal. One bank is still reviewing the RFP to decide if they will submit a proposal. The finance team has met with two banks and has reviewed the RFP received from a third bank.
An all-church meeting has been scheduled for Sunday, May 31, 2009 at 11:00 am. It is very important that our entire congregation plan to attend this meeting. Our architects will report the results of the bids received from the various contractors. The finance team will review the details of the proposals received from the banks. It is imperative that we have good attendance at this meeting as we will need to discuss possible next steps for our Legacy Bridge building project.
If you have not been praying on a daily basis for our Legacy Bridge building project, now is the time to begin. Everyone should have been praying all along for this project. At times we have tried relying on ourselves for this project, now it is time to rely on God. Please pray daily and earnestly from now until our meeting on May 31. We need to seek God’s divine intervention for this project as we will be looking for His direction for our next steps for this project.
Personal Note From Pastor Kermit Culver
Dear First Church friends,
I want to personally invite you to make the May 31st meeting a high priority! We have done significant work praying, planning, designing, raising funds, and working together toward the goal that we have felt God set before us to build a new building and expand our ministries. We are coming to a major decision point and need to share some important information with our whole church family. What is before us may well define our future for the next decades and generations. I hope you will do everything you can to make this meeting a high priority. I enjoy serving with you all in the great cause of Jesus and His Kingdom.
February 1st, 2009 Update
The Legacy Bridge capital campaign lead by Walsh and Associates resulted in $1,659,045 pledged (additional pledges have been received after the final report by Walsh and Associates). This is short of the $3,000,000 goal and even farther short of the $4,000,000 challenge goal for this campaign. So, where do we go from here?
The Legacy Bridge Team continues to meet to discuss this question. This update will inform you of the current efforts.
The Building Team is working diligently along with our architects to finalize the building plans. They hope to have these completed very soon. Once completed, the Building Team plans to release the plans for the bidding process by various interested construction companies. This will help determine the final dollar amount for the building. We expect the bidding process to begin in early February.
We have created a small team to start researching our financing options. We will approach the major banks in the community to determine the amount we will be able to finance along with the term.
Sale of Existing Building
Bill Daniel has agreed to list our existing church building for sale through his company Daniel Companies. A few details need to be finalized before our existing church building will be listed on the market by Daniel Companies.
During the capital campaign, a number of people were unable to be reached to discuss the building project and to be given the opportunity to make a pledge. A small team has been formed to contact these people. For those that we were unable to meet with during the capital campaign, we ask that you prayerfully consider the amount you will pledge. Representatives from this team will be contacting you in the near future. For those that made a three-year pledge, the beginning of the three years is January 1, 2009. Please begin making your payments based on the payment frequency chosen on your pledge card for the Legacy Bridge capital campaign. Included in your offering envelopes are specific envelopes for the Legacy Bridge. If you prefer the convenience of having your pledge payments automatically deducted from your bank, go to our website www.bisfumc.org and select the option “Make Donation” on the left. Additional screens will allow you to establish electronic payments. If you want more information, please contact Al Roll.
Where Do We Go From Here?
The Legacy Bridge Team believes God continues to lead us to move forward with building His new church building on North Washington Street. God will lead us if we all trust in Him. We ask each and every person to be in prayer as we believe God will answer our prayers.