Q: How is the cost so much less than the original plan?
A: Thanks to some wise counsel, we involved a builder earlier in the process to help finalize the plans. Their expertise was invaluable in helping to find “efficiencies” that maximized our existing facility and improved functionality for what will be built. Additionally, we are saving money by completing the project sooner (and in only one phase) thereby avoiding the cost of inflation.
Q: How did we go from three building phases to one?
A: When building in phases, you have to be able to continue the operation of the ministry with only a portion of the project complete. By building all at once, we were able to reduce the total amount of square footage we needed to build, and accomplish the ministry goals for less money. The main purpose for the original three-phase plan was to spread out the financial weight of the overall cost.
Q: What is the timeframe for Funding the Vision?
A: You will have the opportunity to participate in funding the vision, beginning fall of 2017 through the end of 2020.
Q: Will this project involve longterm debt?
A: LEFC is currently debt free at the end of Phase 1 of Project Open Invitation. While paying cash is ideal, the overall size and scope of this project is likely beyond our ability to pay for it in a three year period. As such, we are working with lending institutions to be sure that we have funding in place to cover the difference between our cash & pledges and the project cost.
Q: When do you hope to break ground?
A: Lord willing, we project groundbreaking to be spring of 2018. In order to begin construction on schedule, we will need to have enough in pledges and cash on hand to be sure we can finish what we started.