Last updated 11/21/2016

HOME At Last - Project Budget:

Remaining Project Cost: $2,148,000 (1)

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Funds Available:

HOME - Cash on Hand: $923,000 (2)

Kingdom Fund - Interest Free Loan: $250,000 (3)

Line of Credit - Cash on Hand: $325,000 (4)

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Total: $1,498,000

 

Funds Needed to Start Construction: $650,000

 


 Notes:

(1)  Remaining project cost calculated as total project cost of $2,210,000 minus prepaid items.  Includes: Hard construction costs, permits, design fees, signage, lighting, audio-visual equipment, furniture and fixtures.  

(2)  HOME fund balance as of October 30, 2016.  Not included: outstanding HOME pledges thru 2018 of $951,000.

(3)  The Kingdom Fund is a private foundation that has extended us an interest free loan to help with upfront construction costs.  Loan is due in 3 years.

(4)  Bank line of credit based on future HOME pledges that allows us to access up-front cash for construction