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Tabernacle Baptist Church Cartersville, GA

Tabernacle Baptist Church Cartersville, GA. Building Committee Presentation August 30, 2009. The Building Committee. Lehmann Smith Tim Smith Kevin Stephenson Roy Edwards* Don Hattaway* * - exofficio. Judy Hargett Michael Howren Myra Hufstetler Steve Kennedy Jerry Milam. History.

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Tabernacle Baptist Church Cartersville, GA

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  1. Tabernacle Baptist ChurchCartersville, GA Building Committee Presentation August 30, 2009

  2. The Building Committee Lehmann Smith Tim Smith Kevin Stephenson Roy Edwards* Don Hattaway* * - exofficio Judy Hargett Michael Howren Myra Hufstetler Steve Kennedy Jerry Milam

  3. History • The Building Committee began its work before Capture the Vision. • We were in the process of interviewing firms for the relocation project. • No decision had been made on what type of process to use. • We had begun to interview firms to assist in the relocation.

  4. History • Capture the Vision commitments came in at a level too low to support an immediate relocation. • The economy started to turn down. • One of the firms interviewed (CCL) offered that we would need to strengthen and increase our fellowship to support the cost of the relocation.

  5. History • Based on current financial resources the time required to relocate the church was much longer than expected. • We needed to do something to address the needs at the present campus for the near-term. • CCL was hired by the church to assist with these near-term needs.

  6. History • The needs that were to be addressed were… • Preschool space • Worship space • Parking space • We’re now ready to move forward with a recommendation to address these needs.

  7. The Preschool Space • Several issues were discovered • Not enough classrooms • Bottle neck on Sundays • Outdated • Code compliance • Solution • Move preschoolers into temporary facilities.

  8. The modulars • picture

  9. Tennessee Street Howard Street 19,400 Square Foot Building Existing Educational Building Douglas Street

  10. The cost of the new moveable preschool space…. • $1,088,000 Complete, no paving • 20,000 Furniture • $1,108,000

  11. The cost of moving the youth to old preschool building • $25,000.00 - Plumbing, carpet, paint, etc.

  12. Worship Space • We looked at making adjustments to present space • Cost would not justify any changes • Began the overflow service • Recommended action - Begin a children’s worship

  13. Children’s worship area • picture Conceptual Floor Plan & Seating Layout – 2nd Floor Children’s Worship

  14. Children’s worship area • picture

  15. Cost of the New Children’s Worship Area • Demolition & New Construction - $80,000 • Staging, Sound / Lighting & chairs - $23,000 • Video Projection - $30,000 • Misc. - $20,000 • TOTAL $153,000

  16. Parking • We will lose some parking with the new moveable preschool building. • We asked the Parking Committee to join us and to develop a parking plan. • The plan was implemented starting August 9. • Provides near-term improvements to parking needs.

  17. Total Cost • Moveable Preschool Bldg. $1,108,000 • Youth Space $25,000 • Children’s Worship $153,000 • TOTAL $1,286,000

  18. Financing of the Project • Total cost for the project is not expected to exceed $1,286,000. • Funds are to be provided through a line of credit opened by the Trustees on behalf of the church. • Several local banks have been approached and agreed (for discussion purposes) to terms for the line of credit.

  19. Potential Financing Terms

  20. Sample Amortization Schedule • Loan Amount - $1,000,000 • Interest Rate 6.5% • Monthly Payments: • 5 year loan - $19,566.15 • 10 year loan - $11,354.80 • 15 year loan - $8,711.07

  21. Capture the Vision Commitment Analysis Commitments totaled $1,946.368.78 Receipts through 7/30/09 $726.270.16 Est. receipts through 12/31/09* $171,600.00 Est. receipts for 2010** $468,000.00 Total receipts through 2010 $1,365,870.16 * - $7,800 per week ** - $9,000 per week

  22. Capture the Vision Commitment Analysis Total Receipts through 2010 $1,365,870.16 Payments for land $679,500.00 Estimated payment for roadway $350,000.00 Payments for professional services $45,659.31 __________ Capture the Vision estimated $290,710.85 Balance at the end of 2010

  23. Sample Amortization Schedule • Loan Amount - $5,000,000 • Interest Rate 6.5% • Monthly Payments: • 5 year loan - $97,830.74 • 10 year loan - $56,773.99 • 15 year loan - $43,555.37

  24. Timeline • Begin parking plan – Aug 9, 09 • Make presentation to Finance Committee, Deacons and Trustees – Aug. 23, 09 • Present to the church for a vote – Aug 30 • Order and install preschool modular – Fall 09 • Move preschool into modular – Spring 10 • Renovate preschool space for youth – Spring 10 • Construct children’s worship space – Spring 10 • Begin Children’s worship – Fall 2010

  25. What will this plan do for us? • Provide greatly improved Children’s Space. • Usable modular buildings can be relocated • when we move to new campus , or sold, or • given to a worthy recipient. • Near-term relief for parking congestion. • Added room in Worship Center for visitors, • youth and adults.

  26. What will this plan do for us? Adding space for Preschool will allow us to increase our average Sunday School attendance to around 2,250. This will allow us a few more years at this location to grow our membership and resources to accomplish the relocation.

  27. What will this plan do for us? 3 AM worship services 1,700 2 Overflow services 400 2 Children’s services 200 Total 2,300

  28. Observations • At our present rate of growth (5%), these new plans will be full by 2021. • Based on our history, whenever we have added space our rate of growth has increased. • If this does happen, and I pray it does, these plans will be full by 2016. • That means we have 3 years to plan and 3 years for construction at the new site.

  29. Recommendation and Motion from the Building Committee That the church authorize the Building Committee as follows: 1.To complete the purchase, installation, landscaping and furnishing of a manufactured preschool facility with 22 classrooms to be located on the north end of the campus. 2.To complete the renovation and necessary construction of a Children’s Worship facility on the 2nd floor of the E Building. 3.To complete the renovation and necessary construction of the current children’s building to provide Sunday School space for Youth on the 1st, 2nd and 3rd floors. Total cost for the above items not to exceed $1,286,000. Funds are to be provided through a line of credit opened by the Trustees.

  30. Schedule Presentation to Finance Committee, Deacons and Trustees – August 23, 2009 Present to the church – August 30, 2009 Discussion - September 2, 2009 Church vote - September 13, 2009

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