The church met in Called Business Meeting on Sunday April 20th 2008 at 1:30 p.m. with lunch provided by the Fellowship Ministry Team to consider the report of the Building Committee. The meeting was called to order after opening prayer, and James Griffith, Jr., Building Committee Chairman presented the recommendations of the Committee. They recommended we approve the architect’s report to accept the low bid package and all alternatives of $1,441,800 for the all purpose Fellowship Hall and Educational space addition, from Excel Contrators, Inc. After discussion and secret ballot the vote was 1 abstention, 10 no’s, and 56 yes’s (83.6%). On the suggestion of our architect and recommendation of the Building Committee, the church also voted to get an estimate on the completion of the second floor from Excel Inc. The church had voted for the empty second floor loft because of the estimated cost. The bid was actually over $500,000 below that original estimate.
Upon recommendation of the Building Committee the church voted to accept the letter of intent of the Bank of Charles Town to loan up to $1,500,000 to the church for 20 years, first 10 year fixed rate at 7%, to be reconsidered for the last 10 years. This was the lowest interest rate of the two banks who bid on the loan.
The church voted to reserve one year’s payment for back up from the Building Fund.
No comments:
Post a Comment