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Renovation Updates: Countless people, parishioners and visitors, have called, sent emails and talked to members of our parish to comment and thank us for the beautiful job we did when we renovated our church. Tons and tons of thanks go to all those who have supported this project with prayers, time and financial support. Our Diocesan original loan was approved for $850,000; we only borrowed $604,963.83. We would like to update you on where we are financially.
Total Cost of the Renovation: $ 2,142,906.48 Paid to Date: - $ 1,634,091.51 Loan Balance: $ 508,814.97 Projected Interest Payments: + $ 42,000.00 Total to Pay Off: $ 550,814.97 Outstanding Pledges: - $ 204,666.72 Dollars Still Needed: $ 346,148.25
IF each of the 1223 parish families could financially assist with an additional $95.00 for 3 years (or $285.00) we could raise an additional $348,555.00! We realize that this is not possible for some and that some will be able to do more; working together we can do it! As you prayerfully discern your families’ ability to assist with additional funds over your current pledge, please mark on your check that the amount you are sending in your Church Renovation envelope is over and above your pledge. If we pay off our loan before the three years we agreed as the repayment plan, we will SAVE interest costs. Remember, we raised over $40,000 in just two weeks for the organ! On Good Friday at the noon Mass, as people were leaving the rain came down in buckets and many people said “We wish we had a place to talk to our friends like we did when we were in the gym/cafeteria during the renovation.” Several people have asked why we didn’t add the gathering space last summer; our answer is that we didn’t have the money. The cost of the gathering space last summer was $1,500,000.00 – this amount includes remodeling Founders’ Hall. Keep in mind; the sooner we complete payment of the church renovation loan, the sooner we can begin to concentrate on adding our gathering space on the west side (along 13th Ave.) of our church.
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