Last updated 11/21/2016
HOME At Last - Project Budget:
Remaining Project Cost: $2,148,000 (1)
HOME - Cash on Hand: $923,000 (2)
Kingdom Fund - Interest Free Loan: $250,000 (3)
Line of Credit - Cash on Hand: $325,000 (4)
Funds Needed to Start Construction: $650,000
(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