Heritage United Methodist Church: Building Status

Building Committee Status

Make a Pledge

"A Church for Everyong Building Campaing"

We will build on a "Pay as we go" basis with 20% of all funds collected to go towards the principle on the current building loan. The plan has 3 major items

Elevator
Completion of the 2nd floor
Playground

Architectural Drawings

Progress Report

A contract for $160,000.00 was completed and signed with Vista Construction May 29, 2008, to begin construction on the elevator!
The annuity and all stocks (but the GE stock) are liquidated and deposited at AVSB in the checking account for the Building fund. The liquidation of the GE stock is in progress. The previous weekly reports included estimates for the values of the annuity and all stocks. Beginning with this report, since the investment accounts are being liquidated, the report is reconfigured to display actual amounts on hand.
Vista has selected a superintendent for the project - Scott Bundrick.
Vista has ordered elevator and has their subs are lined up to begin work as soon as weather permits.
Construction work to begin week of June 17-23, 2008, weather permitting

Three Phase Building Program

Phase 1: Elevator
Total cost: $229,400
Partial contract for $160,000 to begin
Phase 2: Completion of 2nd Floow
Some of the 2nd floor can be completed by our own Heritage handiwork! We'll have a regular barn raising here in our own church!
Phase 3: Playground
New playground area for our young ones! Young families having more opportunities!!

"Now to him who is able to do immeasurably more than all we ask or imagine, according to his power that is at work within us, to him be glory in the church and in Christ Jesus throughout all generations, for ever and ever!" Eph 3:20-21

Building Campaign Financial Report

Date	Received	Interest**	Expenses	To Loan	Balance
Jan 2007					$ 30,950.29
2007	$130,695.37		<$18,466.50>	<$26,689.89>	$116,489.27
Jan 2008	$ 3,432.00			<$ 822.40>	$119,098.87
Feb 2008	$ 1,754.00			<$ 350.80>	$120,502.07
Mar 2008	$ 2,214.00		<$ 2,109.31>	<$ 742.60>	$119,864.16
Apr 2008	$ 11,615.20	$ 158.51	<$ 1,272.78>	<$ 2,323.04>	$128,042.05
May 2008	$ 18,631.00	$ 158.77	<$ 648.00>	<$ 3,726.20>	$142,457.59
STOCKS*	$ 12,155.33				$154,612.95
ANNUITY*	$ 6,341.79				$160,954.74
Jun 01, 2008	$ 975.00			<$ 195.00>	$161,734.74
Jun 08, 2008	$ 515.00			<$ 103.00>	$162,146.74
Jun 15, 2008	$ 453.25			<$ 90.65>	$162,509.34
Jun 22, 2008	$ 266.00	$ 140.23		<$ 53.20>	$162,862.37
Jun 29, 2008	$ 551.00		<$ 574.73>	<$ 110.20>	$162,728.44

Date

Received

Interest**

Expenses

To Loan

Balance

Jan 2007

$ 30,950.29

2007

$130,695.37

<$18,466.50>

<$26,689.89>

$116,489.27

Jan 2008

$ 3,432.00

<$ 822.40>

$119,098.87

Feb 2008

$ 1,754.00

<$ 350.80>

$120,502.07

Mar 2008

$ 2,214.00

<$ 2,109.31>

<$ 742.60>

$119,864.16

Apr 2008

$ 11,615.20

$ 158.51

<$ 1,272.78>

<$ 2,323.04>

$128,042.05

May 2008

$ 18,631.00

$ 158.77

<$ 648.00>

<$ 3,726.20>

$142,457.59

STOCKS*

$ 12,155.33

$154,612.95

ANNUITY*

$ 6,341.79

$160,954.74

Jun 01, 2008

$ 975.00

<$ 195.00>

$161,734.74

Jun 08, 2008

$ 515.00

<$ 103.00>

$162,146.74

Jun 15, 2008

$ 453.25

<$ 90.65>

$162,509.34

Jun 22, 2008

$ 266.00

$ 140.23

<$ 53.20>

$162,862.37

Jun 29, 2008

$ 551.00

<$ 574.73>

<$ 110.20>

$162,728.44

* The annuity and stocks were pledged before the 5/20/07 building finance campaign kickoff, the beginning of loan pre payments, so no 20% deduction is needed.
** Interest from CD at AVSB. $95,000.00 was removed from the checking account/deposited into a CD.
Pre pymts to the existing ln from Bldg offerings continue at a 20% rate.
The Building finance campaign continues through 2008. Pledge cards are for the calendar year 2008.

Progression on how we got here

November 5, 2006 - Study Committee Proposals

February 18, 2007 - Church Conference
The "Time to Build a Church for Everyone" proposal passed.

April 12, 2007 - District Approval
The proposal was approved by the District Board of Church Location and Building

May 20, 2007 - Building Program Kickoff
Pledge campaign for pay as we go/build as we go effort/20% of donations paid as prepayment to retire existing loan principal

Design/Build approach did not receive ample response -
focus changed to architect bid approach

September 16, 2007 - Architect selected
R.W. Bright, Inc., was selected as architect for the development of documents for the proposed elevator and completion of the 2nd floor.

October 14, 2007 - Moved location of elevator
Ad Council approved to move the elevator location to the west entrance.

December 14, 2007 - Additional improvements required

Railing in foyer and balcony does not meet code
Proposed partitions - existing 1st floor structure won't support
Floor/sub floor of second floor
Ceiling for second floor

December 18, 2007 - Ad Council approval of architectural plans

May 29, 2008 - Entered into a contract with Vista Construction to build the elevator