South Central Construction Judges' Award
Ruling Elder Doug Dale and his architectural associates (and our Session's Ad Hoc Sanctuary Committee) are to be congratulated again, for yet another award relating to the Sanctuary Expansion and Enhancement, and Building Renovation here at First Presbyterian Church. McGraw-Hill's South Central Construction Awards for 2008 are out, and First Presbyterian has received the Judges' Award for Design. You can read the article, here.
By the way, to date (just over three years since we started receiving monies toward pledges back in 2005, and just a year and a half after we occupied the building) about $7.5 million of the $11 million required for the project has already been given. And with the remaining debt from the Twin Lakes Conference Center phase two expansion, and the Gillespie Street property acquisition, now rolled into one loan we will still have less than $4 million in total church indebtedness going into 2009. We are budgeted to pay off the debt at a rate of about $52,000 a month, plus any additional monies given directly to debt retirement. That's a clip of about $800,000 or so, per year. This puts us on pace to pay off everything in about five years.
By the way, to date (just over three years since we started receiving monies toward pledges back in 2005, and just a year and a half after we occupied the building) about $7.5 million of the $11 million required for the project has already been given. And with the remaining debt from the Twin Lakes Conference Center phase two expansion, and the Gillespie Street property acquisition, now rolled into one loan we will still have less than $4 million in total church indebtedness going into 2009. We are budgeted to pay off the debt at a rate of about $52,000 a month, plus any additional monies given directly to debt retirement. That's a clip of about $800,000 or so, per year. This puts us on pace to pay off everything in about five years.
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