Moving Forward!
Heather Millar, President
First, I want to thank all who have participated in this process to determine our next steps for the Building Expansion Exploratory Committee (BEEC2). To the planners, facilitators, recorders, and especially all those who took the time to read about and listen to BEEC2 plans and financing options and then offered their insights and concerns, Thank You!
From Sunday’s breakout rooms we clearly heard one main message, give BEEC2 the green light to implement Phase 1 now. Much support for financing the shortfall was expressed, although some raised concerns about a balloon payment. The Board took action during its February 23rd meeting to authorize financing up to $340,000 to complete BEEC2 Phase 1. This enables BEEC2 to act immediately to move forward and implement Phase 1.
Two prominent ideas expressed in multiple rooms actually contradict each other. On the one hand, much concern about making sure we fund our operating budget was expressed. Also, there was significant support that we ask congregants for donations to the Capital Fund to complete Phase 1. When considered carefully, these two suggestions actually contradict each other. Here is why; it is a matter of timing.
We have a talented and dedicated group who have been planning and are almost ready to launch a robust stewardship campaign designed to put us on the road to fully fund our operating budget this year and for the coming years. This is “making sure we fund our operating budget.” This Stewardship Team, the Board, and ministers know if we also “ask” at the same time for contributions to the Capital Fund, we most likely will not realize the desired results from this stewardship campaign. An additional problem with this “ask” is that it will likely interfere with the potential for required funds in a few years when we launch a planned Capital Campaign to complete all of the renovations and construction to replace the Fahs House and provide needed additional space.
Several groups commented on what to consider when selecting a bank, another area where contradictory proposals were promoted. There was support for using a Black-owned bank and also for a local bank that is successfully involved with nonprofit and minority communities. Related to this, some felt selecting the bank that offered the lowest interest rate and terms is most important while others said we should engage a Black-owned bank.
There was widespread support for and appreciation of BEEC2 efforts to focus on the 8th Principle. Other suggestions reported from multiple breakout rooms Sunday include: accept loans from members, sell one or two small parcels of land, borrow from the Endowment Fund and grow the membership. While all ideas reported from Sunday’s breakout rooms are being considered, clearly all cannot be implemented. However, we do plan to follow the advice expressed in several rooms and declared at the end of one particular report: communicate, communicate, communicate!
As reported above, the Board has taken action to enable BEEC2 to move forward now. The details of financing will continue to be examined by the Executives and Board. We appreciate all of the input and will continue to report relevant information. Again, thanks to all who have participated.