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Update: June 2008
“Seize The Dream!” is designed to encourage,
educate, excite and engage everyone in our
church in the principles of biblical
stewardship. Our new facility and larger campus
will enable us to reach many more people, “to
promote successful living and help people get to
heaven.”
We pray that you will share in the vision of
what God can do through each one of us as we
seek Him. Our greatest desire is that every
person who calls Faith Assembly home will pray
and ask, “Lord, what do you want to do through
me to accomplish Your purposes in our
community?”
Thank you to all who are giving faithfully. If
you would like to give toward this the future
now is the time to start. The more we give up
front, the less we have to borrow and that
translates into more resources for ministry and
less debt service. Be part of the dream and
start giving now!
The new facility is Phase Three of what will
probably be five phases. The greatest need
right now is space for children and youth,
babies and toddlers. So this project really is
about the children and the church of tomorrow.
Phase four will expand worship area for adults.
GROUND BREAKING
NEWS!
Q.
What’s the progress on our new building?
A.
After years of prayer and planning, more prayer
and more planning, endless committee meetings
and difficult decisions, the final plans
were submitted to the City of Lacey at the end
of February. Our Groundbreaking celebration was
June 22, 2008!
Q.
When does construction start? How long will it
take?
A.
Our
project will take ten months to complete.
Q.
What will the building look like?
A.
It will occupy approximately one third of the
lawn and provide infrastructure for the next
phase of construction: larger nurseries, larger
restrooms, larger hallways and a new foyer,
elevator, commercial kitchen, coffee shop, youth
center for 220, children’s theater for 150 and
additional classrooms.
Q.
What? No new sanctuary?
A.
No. After much study and much listening to the
volunteer teams, it became clear that the
greatest need is for what is described above. A
larger sanctuary will come in the next phase of
construction.
Q.
How are the finances coming?
A.
In 2001 we launched Building for The Harvest and
received $1,066,715 over the succeeding 3 years.
Seize the Dream was launched in 2006 and we
committed to give $1,051,193 before April of
2009. To date we have given $572,259 or 56%.
This is good progress!
Q.
Have we already spent some of this?
A. Yes. In addition to architectural fees,
we had to do several studies and pay for
engineering in preparation for construction. In
2007 we purchased an adjacent house for
$263,000. This was a strategic move for the
future and also provides some cash flow for
future debt service. We remodeled the HUB and
moved all the offices at a cost of $152,820.
Why? This means we don’t have to build new
offices in the future and easily saves us over a
million dollars. We remodeled the sanctuary and
bought new carpet and chairs. The annex storage
room was converted into a much-needed classroom.
We also saved money by paying off all the
existing debt, including the balance on the
Missions House. At this point we are totally
debt free!
Q.
So what will it all cost?
A.
In September, 2005, the congregation approved a
$3.5 million project with a total debt limit of
$2.4 million. As the plans developed and
inflation increased the costs, we still managed
to hold the price to $4.25 million. The building
committee has done an excellent job in
presenting us with an affordable future. But
this financial reality means we had to raise the
debt limit to $3 million, as approved in 2008.
Q.
Can we afford this?
A. While we can’t predict the future, with
our present giving level and faith, the answer
is yes. We have $817.848 presently on hand,
$478,933 in outstanding pledges and have a loan
approved and in place for $3 million giving us a
total of $4.3 million available. Why? Because
historically, not all of the pledges will come
in and there are also unknown costs that
typically appear. By approving a $3 million debt
limit we should have enough “cushion” to allow
for these unknowns and still be able to finish
the project.
Q.
Can I make a pledge now?
A.
Of course! If you haven’t made a building fund
pledge, you need to invest in the future of our
church and God’s Kingdom NOW! Our generosity
today means less debt resulting in more outreach
and ministry. Call the church office or get a
pledge card at the kiosk.
Q.
Will we be able to use the building during
construction?
A.
Yes, but get ready for the dust and debris.
Because our project connects our current
building to the new building there will be
significant disruptions. It will all be more
than worth it when finished — in just ten short
months. Please continue to pray that the Lord
will keep the blessings flowing. It’s not about
buildings, it’s about promoting successful
living and helping people get to heaven.
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