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1. What does it cost to operate Mosaic?
Our average monthly expenses are $18,926. Of that, our monthly rent is $2700 (this includes a bi-annual amount paid for taxes on this property).
2. How do we cover our expenses?
Except for a few outside donations, our expenses are covered by the offerings given on Sundays by members and guests. Our average monthly income in offerings is $17,953.
3. Why do we need to buy this building?
Our current lease is for five years, or until March 1, 2011. After that date, the owner has the right to sell this property to the highest bidder. He’d like to sell to us, but if we don’t choose to pursue the purchase, someone else will. We will then need to make other (long-term) plans for accommodating weekly worship and discipleship activities. Clearly, it is in our best interest to pursue this property now.
4. Can we continue to rent this building? Or can we move to another location?
Our current lease expires on March 01, 2010. At that time, the owner has the option – if we choose not to purchase – to continue renting to us or to sell to another buyer. If he sells, we would need to move to a new location (unless the new owner invites us to stay). Research on commercial rental properties in our area shows that we would likely spend twice as much as we currently pay if we were to move to another location. Similarly, building construction for a place our size would likely cost more than the purchase price of this building. Another option is to expand the amount of space we now rent in this facility – a choice that would make our rental payments nearly the same as a mortgage on the whole building.
5. How do we envision using the additional space we hope to acquire?
The vision as we currently see it gives the added space to three areas of ministry – children, youth and mission. After the building is purchased, a team will study our needs and provide a more detailed proposal.
6. How will our ministry benefit from this purchase and expansion?
Think of it like a shoe. When your foot grows, you need a bigger shoe! If you don’t give a growing foot a bigger shoe, the result is stunted growth. It is the same with our ministry. We currently use all our space on Sunday mornings. In order to continue to grow, we need a bigger “shoe” so our ministries can expand in healthy ways.
7. How will our student ministry benefit?
In the short term, One80 will have the use of a new room that better suits their size and activities.
8. How much area are we acquiring?
The finished building is 20,000 square feet. Total acreage is 3.14.
9. How much space do we currently occupy?
We currently occupy about 8,500 square feet. There are an additional 11,500 square feet of space in our building not currently in use by us.
10. Is this a good deal?
The agreed-upon sales price is $937,000. The county records show the appraised value at $945,000. A privately contracted appraisal yielded a value of $1.2 million. Remember that in addition to the land value, there are important pieces already in place here that will save us money – i.e. – paved parking, landscaping and additional finished space ready to be occupied.
11. Has this price been confirmed by a current appraisal?
Yes. See QUESTION 10 .
12. Is this in keeping with God’s vision for our church?
Many have commented that this building is in keeping with the personality of our church. It is working space, not artwork, which is in keeping with our vision for being a community in mission. The location is within our primary ministry area. And the story behind our use of this building certainly seems to point to God’s blessing over our being here.
13. How will Mosaic and this capital campaign be affected if our pastor is assigned to another church in the United Methodist system?
The district committee on church development has reviewed and approved our plan for purchasing this building. And while it is not usual for a pastor to move while a capital campaign is in progress, we have the assurance that in any case, we have the support of the system within which we operate.
14. How will we be asked to contribute to this project?
Our finance team and Trustees have been meeting to discover the best plan for raising the needed funds. These teams propose that we hire a consultant to help us raise both awareness and funds for this project. The consultant will work with a team of church members who will design a campaign that reflects the personality and values of our congregation. Consider it an educational and spiritual campaign – an opportunity to learn more about the vision as well as God’s call on each of us. The highlight of this campaign will be an invitation to commit to a gift, given over three years, in support of the building purchase.
15. Tell us more about the funds needed for the next phase of building development.
This first campaign will help us buy the building and land. Unless something miraculous happens (and we are not ruling that out!), it will not cover the costs of developing the undeveloped parts of our building. That will happen down the road, once our initial campaign is complete. Think of this project as a long-term vision with several steps.
16. Will there be storage for music equipment in the new space?
Yes! Immediately available will be several hundred square feet of storage space above the front offices.
17. Will we have an opportunity to see the undeveloped space?
Yes! If you have not yet toured the whole building and would like to, please don’t hesitate to ask Carolyn Moore or Steve Cutcliffe. We will arrange that for you.
18. How much money will we need to raise to obtain financing?
Our initial conversations with lenders indicate that we would have no trouble securing a loan if we are able to raise $500,000. The remainder of the purchase price ($437,000) would be financed and the monthly payments (with an 8% interest rate over 15 years) would be around $4,300.
19. When would we begin to use the space?
We would begin using the air-conditioned space immediately (that’s about 2000 square feet of additional space). The rest of it would be used either as indoor recreational space, or as space we could rent for a time in order to raise additional funds.
20. How much would be immediately available?
About 500 square feet of air-conditioned space, plus another 1,500 square feet of space that should be easily adapted for use. We will also have access to several hundred square feet of storage space.
21. Is it possible that we might rent the undeveloped part of the building to someone else for a while, to help pay for it?
Great idea! It would be a good short-term way to raise funds as we grow into our new payments.
22. Is it possible that our student ministry (One80) could use some of the space for their Sunday night meetings?
Absolutely! We see this as a priority in the first phase of building development.
23. Will we be able to help decide how the new space is designed and what it is used for?
Your ideas are both welcome and important. Because the space will not be immediately developed, there will be time After the capital campaign to begin dreaming together about how to best use this gift from God.