Written by Alan Skeen (Chairman of the Elder Board)
A three-year pledge campaign was launched in November 2018, culminating in us breaking a 24-hour period of prayer and fasting gathering together at the Ministry Center.
Pledges totaled $286,216.00. Initially we were looking at a total building cost of a little over $1,000,000.00. At that time, we elected to pump the brakes a little to reevaluate the building plan and reduce the costs. Those who made pledges were told that they could continue with their original pledge, change their pledge or pause their giving until a more realistic building plan was available. Many continued giving at the expected rate.
The current giving totals are as follows:
- Total Building Fund pledge giving for 2019 – $86,989.95
- Building Fund pledge giving this year through February 9th – $20,165.45
- Total Build fund pledges year to date – $107,155.40
- This represents 37 percent of the pledged amount
- Remaining amount of pledges yet to given – $179,060.60
- Additional giving to Building Fund – $7,726.18
- Funds transferred from General Fund – $160,000.00
- Building Fund Total – $266,722.24
The building footprint was then reduced to a more affordable size while still meeting the basic needs of Cornerstone. Since then we have worked with our architect to fine tune the floor plan to reduce cost and improve congregating areas and building access. We are also looking at utilizing the current Ministry Center for more classroom space by dividing the large meeting area with portable partitions.
The new building floor plan was presented at the meeting, although there will be some minor changes before the plan is finalized and the architects and engineer can work on completing the drawings and documents for bidding and construction.
We presented an option of a phased construction schedule to allow us to begin constructing the building shell soon, while avoiding material and construction cost increases. The building shell would include doors and windows so the building would be watertight. This would allow the interior buildout and additional work to begin as more giving is received and allow time for volunteer help. Painting, floor coverings and some of the exterior sitework could be completed after moving in the building, delaying those costs until additional funds are received.
The other option is too wait until all the necessary funds are received and then begin construction. At this time with the current rate of giving to the general fund we are not considering a loan.
Phased construction costs look like this:
Phase I (In Progress)
- Drawings $20,970.00
- Building Shell $290,000.00
- Interior Buildout $$345,000.00
- Exterior Sitework $35,000.00
- Furnishing $15,000.00
Total Estimated Cost $705,970.00
These costs are a budget bid and are not competitive bids, we would expect the cost to be lower once drawings are complete and actual bids are received. This cost also does not reflect any donated construction material or volunteer labor. We recently purchased a 40-foot shipping container to store donated construction materials and we have already secure enough insulation for the entire proposed building as well as other materials. Once no longer needed we will sell the container.