We did it!   $1,356,942

Thank you for stepping out in faith and

making our new vision for CPC a reality.

At a congregational meeting on Sunday, May 7, 2017, the following action was taken:
that the members of Christ United Presbyterian Church of Rancho La Costa proceed with plans for a renovated sanctuary / fellowship hall and approve indebtedness not to exceed $1,400,000 at terms not to exceed a twenty-year amortization at 4.5% interest.

The attached report covers the details of the meeting. Highlights include:
 
Financial plan:
1) Loan: The final loan amount will likely be between $1,250,000 and $1,400,000, depending on the actual cost of construction and the cost of any additional projects that may include renovation of the kitchen and new flooring and paint for the preschool and education buildings.
 
2) Indebtedness: At the end of three years, some indebtedness will likely remain, and we will retain at least $100,000 in our building fund. At that time we will deal with the remaining indebtedness with either a follow-up capital campaign or by refinancing the debt and including it in the annual budget.        
 
Construction Update
1) Our architects at Domus Studio are preparing construction drawings, after which the permit process with the city of Carlsbad will begin
2) The Session will contract with Watkins Landmark Construction to oversee the project.
3) Installation of the Jewish Collaborative of San Diego’s building will begin May 18 and take 7-10 days.  CPC will worship in the synagogue during construction.
4) Timeline: the goal is to begin construction after the Fourth of July. Construction is expected to take a maximum of four months.
 
Giving to Forward in Faith
Giving to our capital campaign has begun; we have received about $260,000 already. Please be sure to specify gifts to Forward in Faith either by marking your check or envelope FIF, or by using the “Building Fund” envelope that is sent to each household. Gifts that are not designated for a particular purpose are all placed in the operating budget. Beginning in July, our building fund envelopes will be marked Forward in Faith.
 
Because Forward in Faith funds will be kept separate from the operating budget, it is very helpful to use separate checks/envelopes for giving to Forward in Faith.
 
Questions
Please contact financial secretary / treasurer Loyd Wright or Pastor Greg Bostrom with any questions.

 May 7, 2017 Congregational Meeting Report