As we approach the final quarter of 2019 – and the closing months of the first phase of our Be the Blessing campaign – it’s good to update everyone on our progress and highlight plans for the future.
In spring 2019, we were excited to announce city approval to proceed with our plans. The next step has been to line up financing to fund the project beyond pledges and contributions already received. As a reminder, the first phase includes grading the land, solving drainage issues, adding a substantial parking lot behind the building, and creating a “rear” entrance to access the building from our new parking lot.
Our small congregation has done something very special. Thanks to your generous contributions, we are currently ready to contribute approximately $1.155 million in cash to Phase 1 of this project.
We have received an excellent offer for a maximum $1.5 million loan from a bank that regularly works with churches. With the contributions, this loan will cover Phase 1 and allow us to begin detailed planning for Phase 2 (which entails the permanent structure for additional classroom, community, and office space on the upper tier of our current parking lot).
Over the past few months we’ve looked very hard at the bank’s offer, have closely reviewed the church financials for the past 5 years, and have stress-tested those financials for challenges. We’ve consulted with financial specialists to gather feedback and guidance about the wisest and most prudent steps to take. Through it all, we have reflected and prayed for God’s direction.
With all this in mind, we are excited to move forward with this project in a way that reflects wisdom and sound financial stewardship and puts the Conejo church on a path to be more vibrant than ever in the decades to come.
The leadership prays continually for the Conejo church to Be the Blessing. We seek always for you to join us.
In the next 4 months we need to complete the commitments made during our initial “pledge-card” campaign. We prayerfully urge all members to consider giving even more to reduce the loan amount as much as possible.
While working to secure one more wave of contributions, we will also be taking a hard look at operating expenses to see where we can make prudent cuts. Our financial advisors have identified areas where we can likely find savings, and those discussions are ongoing.
We will be hosting a town-hall after second service on September 22 to further share our planning. Please join us with questions, suggestions, hopes, and dreams!
Grace and peace,
The Conejo Church Elders
P.S. Thanks to each and all of you, church! For your commitments and contributions – in service, time, funds, elbow grease, vision, details tiny and large, and prayer! Let’s finish strong!!!