Progress continues on the design of the sanctuary addition. After having a design we liked, we realized it had a significant deficiency. Those seated to the far right or left of the chancel would be unable to see the stained glass window and wall cross in the chancel. As a result, we have considered several different roof designs that mitigated the blocked view problem. Many of you expressed your preferences after seeing the three alternatives presented on the screen before and after worship services in March. Discussion with our architect continues to determine which option provides the best appearance and is most cost-effective.
We also have news that places a challenge before us. During previous Building Committee presentations to the congregation, I indicated that our lender, First Westroads Bank, had calculated our borrowing capacity at $1.1M as late as November 2008. Since that time, they have re-evaluated our year-end annual operating income and expenses for 2008, and, after applying their current loan formula, informed us that the maximum borrowing capacity is now reduced to no more than $630K?approximately one half of the amount last calculated.
The reduction in borrowing capacity creates a major obstacle to beginning construction of the sanctuary addition within the next year or two. Some of the reduced amount can be attributed to revisions to lending formulas based on changes in the banking industry. Most of the reduction is a reflection of a downward trend in operating budget contributions (excludes designated offerings such as building fund, etc.) at Pilgrim. These factors indicate we might have problems covering increased operation and maintenance expenses and making monthly mortgage payments after expanding our facilities.
What can Pilgrim do to increase our borrowing capacity and begin construction of the addition sooner? The best way to enhance our ability to construct the new sanctuary addition is to increase attendance while also examining our own giving practices. If you decreased your general giving in order to make a contribution to the new sanctuary, please reconsider this because your gift to the building is not really a sacrificial gift. Plus, any decline in our general giving will also impact our ability to borrow and start construction of our new sanctuary.
It is our Christian responsibility to help others connect to Christ. Consider extending an invitation to attend Pilgrim to a co-worker, friend, neighbor or family member who has no church home. I encourage you to pray about finding an opportunity and then extending an invitation. After all, our mission here at Pilgrim is not about building expansion or fund-raising. It is about faith raising and growing a community of believers. Let's each take on this challenge and move forward boldly!
Jim Engelkes
Building Committee Chairman
Being Built Together Donations
(Sanctuary Building Fund)
as of March 29, 2009
$166,528