Financing the project will come from a
number of sources. We plan to sell a part of
the 80 acres for purposes that complement our
family ministry vision. A Lutheran senior living
facility and a possible sports complex are potential
partners at our location. We may realize up
to $9 million from land sales, including the sale
of our current campus. We are launching the
Extending His Reach capital campaign which is
projected to yield $2 million. Our borrowing capacity
is between $5 and $7 million. We expect
the building cost to be reduced by approximately
$2 million due to lower construction costs.
An engineering firm is working with our
architect to plan the roads and utilities.
These costs are included in the cost estimate.
The upgrades to the land will result in a higher
value of the land that we will sell, which in turn
will help to offset the costs.
We have studied a number of multi-use
worship facilities and concluded that if the
building is designed for multiple uses the
transitions can be very easy and timely. The
chapel will be used for smaller services when
the multi-use facility is being used by others.
Our architect has experience in creating multiuse
facilities that create the feeling and atmosphere
desired for the event for which the space
is being used.
A new child care program is an important
part of our vision. The child care facility will
provide a needed Christ-centered service for
families and will also be an entry point in the life
cycle faith walk that we seek to build.
The plan is that the senior center will be
owned and managed by a well established
Lutheran organization that is operating
similar centers at other locations. Grace will
not manage the center but we will insist on
compatibility with our vision.
The Extending His Reach capital
campaign will launch in April. The
Germantown/Menomonee Falls intermunicipal
agreement to provide sewer and water
services is expected to be approved by May.
Negotiations on a land sale to our potential
partners at the highway Q location are due in
for June. We plan to break ground in the fall of
2009 and dedicate the facility in early 2011.
We hope and pray that we will raise over
$2 million with the Extending His Reach
campaign. The Building to Reach Out Campaign
ended in 2007 and raised $1.55 million.
These funds allowed us to complete our land
purchase and some early development work.