Saints Meeting

Last two months day-to-day cost

September:

Black hills: $527

Garbage: $80

LES: $419.50

Water: $153.41

Furnaces: $324.41

Allo: $108.39

Insurance: $1,235.41

Total: $2,748.12

October:

Black Hills: $581

Allo: $108.39

Garbage: $17.50

LES: $614.01

Water: $186.49

Furnaces: $324.41

Insurance: $1,187.40

Total: $3,019.20

September Total: $2,748.12 October Total: $3,019.20

Cost most of 3k/month just to keep doors open.

That’s the cost of maintaining a church 2-3 times as large as this building.

Other issues:

Need two furnaces ($25k)

Another furnace needs work

Parking

Is there anyone that is on the fence on selling the building?

Alternative realities:

Black Hills: $250

Allo: $108.39

Garbage: $17.50

LES: $300

Water: $75

Furnaces: $0

Insurance: $300

Total: $1,042.89

Sale

We have an offer on the building of $450,000.000

450k - $27k (6% reality fee) = $423,000.00

423k - $19,804.33 (District furnace loan) = $403,195.67

What can we do with $403,195.67?

Option #1: Rent another church: 1-1500/month

Sit on our $400K

Invest our $400k

Pros:

easy setup

save 2k/month for building fund

Cons:

not our “church”

scheduling issues

Option #2: Buy existing church

Pros:

best option

Cons:

how much will 400K buy?

Option #3: Short term (2-5 year) lease

Cost:

$7-$25/square foot

5,000 square feet = $2,917-10,500/month

Pros:

Place of our own

Maintenance not our responsibility

Snow/lawn care not our responsibility

Cons:

rent

Any buildout would be out of our responsibility

Option #4: Rent a school

Cost:

$500- +/month

Pros:

Cost

Cons:

Set up