As proposed to the Congregation on May 5, 2013
WHEREAS, the congregation of Shepherd of the Mountains indicated a desire during the semi-annual meeting of the congregation on May 16, 2010 to meet a ministry need by adding (1) Sunday School classroom capacity, and (2) fellowship capacity; AND
WHEREAS, it was resolved at a congregational meeting on May 15, 2011 that the Congregation shall support the active solicitation of our membership for 2-year pledge contributions with a goal to increase our existing Building Campaign Fund to approximately $500,000 by December 31, 2012; and that the Congregation shall support the creation of a Building Task Force consisting of four representatives to address:
1. Building functionality and construction costs;
2. Fundraising;
3. Financial recordkeeping; and
4. Communication with council and the congregation.
WHEREAS, the congregation has raised $342,000 in a Building Campaign Fund;
WHEREAS, the Building Task Force (BTF) believe that the existing building costs and mortgage rates make it prudent to proceed now with adding to and remodeling areas of the Church;
WHEREAS, the BTF and the Stewardship committee recommend an ongoing Building Campaign to pay down a new mortgage;
WHEREAS, the BTF with input from the congregation at several congregational meetings and briefings, and approval from the Congregational Council, has developed plans with Peters and Newell Architects of Salt Lake City, Utah and received cost estimates from Far West Builders of Salt Lake City, Utah;
THEREFORE, BE IT RESOLVED that the Congregation shall authorize the Congregational Council President to sign a contract with Far West Builders to add to and remodel the existing Church building and to use the funds in the existing Building Campaign Fund to refinance the existing mortgage into a new mortgage with Thrivent Financial not to exceed $700,000, and to continue a Building Campaign to meet the financial obligations of undertaking a long term mortgage. The funds raised in this long-term fund would be used 90% for debt repayment and 10% for building maintenance with the objective to repay the loan before the interest rate resets in 10 years.