ALL IN: PONTALUNA SITE UPDATE
This past Sunday we gave an ALL IN update. We did a little ground breaking last week. We couldn't make it a big, all church event because there's no where to park yet. They're almost done clearing the property and they should be pouring the foundation in early June.
We also gave a financial update. Our All In giving & pledges has exceeded our original goal. While we are very excited about that, we are also dealing with increased construction costs. What was proposed two years ago has increased 15% which is in line with general construction costs in our area. We had an estimate of a $1 million dollar building and planned to spend $200,000 on land. Our property ended up costing us $50,000 more and the building now has increased to $1.25 million due to increased material cost and meeting some city requirements.
Our Lead Team and Partnership has approved an increase to our mortage to cover the increase, but we're also trying to keep debt at a minimum. Although our preference is to take out as small a loan as possible to do all that we believe God has in front of us, the Lead Team felt the $1,000,000 was a threshold that we could meet. We used a base case budget which projects various increases to mortgage, utilities, and any other area that will see increases due to the new building and includes a conservative, projected increase in giving based on growth trends.
As we move forward with these increases, here's a few things to consider. If you made a pledge, please fulfill that pledge. If you're new, consider playing a part in this expansion to pave the way for more people to experience Jesus. All the details are here. If you've been giving, please consider if you can take a next step in your giving.