Building

Goals
• Stay Downtown
• Keep Costs the Same
• Increase our Space

Why a Building, Why Now?
Tangibles:
Timing
• Building space had already been identified.
• This building was sold as we were investigating it
• Lease runs our September 1

Why a Building, Why Now?
Tangibles
Stewardship
• Current costs are $5200 for rent & utilities.
• 10,000 sf on Sundays, 5000 sf all week.
• Elks Building is over 17,000 sf
• As a comparison, costs to be in the Elks building will be around $5000/mnth
(mortgage/utilities/maint/Ins.).

Why a Building, Why Now?
Intangibles
Discipleship and Ministry
• It will allow for expanded ministry by people for people through Creekside.
• It will be a resource to serve the church family
• It allows us for expanded numeric growth

Why a Building, Why Now?
Intangibles
Legacy
• It will provide a stable, long term resource to see the gospel go out in this area for years to come.
• It will free up resources in the future for ministry.

Construction Committee
• Paul Betts
• Ed Erion
• Curtis Wright
• Mark Newman
• Nathan Knottingham
• Dave Hays

Inspections
• Structural – MSC Engineers
• Electrical – Northside Electric
• HVAC – Salem Heating & Sheet Metal
• Fire Sprinkler – Western States
• Lead/Asbestos – Alpha Environmental
• Water Intrusion/Building Envelope – Forensics
• Building use – CBTwo Architects

Purchase Status
• Due-Diligence Period
• Final Negotiations
• Closing Date Requirements
• Date able to occupy – March 10 , 2016
• Our current lease ends Sept 1, 2016
• Repair addendum
– Roof and Kitchen

Corner of 4th andEvans

4th Street

Evans Street

Evans Street

Evans Street

The Building – Ground Floor
4
6
5
7
1
3
2

The Building – Ground Floor
2
3
5
4
1

Building Purchase
• Purchase Price - $640,000 = $37/sqft
• Financing the purchase:
– First Federal
– 75% loan on purchase price
– Terms 15yr/25yr amortization
• Mortgage payment 25 yr - $2,834
• Mortgage payment 15 yr - $3,820

Remodel Needed
• Remodel Needs
– Ballroom – End walls and Fellowship separation
– Kitchen – minor, just some cleanup and order
– Offices – rework layout add conference
– Restrooms – modify upstairs and add total new downstairs
– Fellowship – Expand and update
– Downstairs – add classrooms and create open area
– Canopies – removed and/or updated

Remodel Schedule
Design Complete
Receive Permit
February 28th
March 31st
Begin Construction April
Finish Construction August
Move in Mid August

Full Remodel Budget
$170,570 Down payment/Financing
Design/Permit
Construction
Furniture
Total
$75,000
$810,000
$35,000
$1,090,570

Partial Remodel Budget
$170,570 Down payment/Financing
Design/Permit
Construction
Furniture
Total
$75,000
$400,000
$35,000
$680,570

Current Building Fund
• What has already been given towards the building and sits in a fund today?

Building Fund Account
$ 538,000

Remaining Funds Needed
• Full Remodel
$ 552,570
• Partial Remodel
$ 142,570

Giving Options
• One time lump sum
• Commitment pledge

Close & Pray