WHAT ARE WE VOTING ON?
We are voting to authorize the Board to submit an offer of $770,000 for the purchase of real estate.
That is the only action being taken with this vote. Details on the property can be found below.
You can read the Congregational Letter mailed with a ballot to each voting member on July 7, 2020.
ABOUT THE PROPERTY
The property we're interested in is located at 10330 E. Harry Street in Wichita. It is a church, and they listed it for sale by sealed-bid auction on July 1, 2020. The winning bidder was unable to produce funds to complete the transaction, so we now have an opportunity to purchase the property for $770,000.
In addition to the packet you can download above, here are a few features:
CLICK HERE TO SEE A VIDEO TOUR AND MORE INFORMATION
You are invited to see this property before you vote.
We will have the property open for walk-throughs on the following dates:
questions & answers
In this section we will post quetsions we've received from the congregation as they come in, and offer any information we have to effectively answer those questions.
What are the average utility costs?
Utilities averaged between $1,000 and $1,200 per month.
By comparison, our average utilities over the same period were $3,200 per month.
What about Oasis and Southwind Sangha?
There is sufficient space to accomodate our current Parish House tenants.
We will invite them to come along with us on this journey.
What about the money? How are we going to pay for this?
The Fairmount property is under contract for $149,000. When the education building was sold, Fairmount set aside an additional $100,000 for a future building fund. We also value the Pilgrim property at approximately $350,000. Together, this would provide roughly $599,000, leaving a loan balance of $171,000 with Cornerstone Funds. We can finance that over a 15-year period or retire the loan using available investments in such a way that a large majority of our investments would remain intact.
ARE THERE ANY CONTINGINCIES?
Yes. We are subject to the terms of the original auction. We have the duration of a vote to submit our offer, which allows the original high bidder the same amount of time to find their funds and make the seller whole. If they complete the transaction before we finalize our process, we will not win this property.
In order to follow our process and move forward with transparency, we are comfortable with that risk.
WHAT HAPPENS IF WE WIN THE PROPERTY?
Fairmount is sold and will close in early August. We will list the Pilgrim property, too, and begin making preparations for a move after a closing is scheduled. We can apply for a bridge loan through Church Building & Loan.
We should have the ability to move in phases, given that our facility is currently closed. This should make for an orderly, logical transition so that everything is set up and operational by the time we are able to resume worship and activities.
We intend to invite our current tenant and user groups to come along with us, as there will be space available for everyone in the new facility. We will continue to embody our vision statement, "everyone welcome, seriously everyone."
HOW WILL VOTING BE CONDUCTED?
In accordance with our Constitution and Bylaws, and given the unusual timing of this vote,
every active member of the congregation will receive a ballot by mail.
For your vote to be counted, you must sign and return your ballot on or before Wednesday, July 15, using the included self-addressed, stamped envelope. You may also return your ballot directly to the office during business hours prior to July 15 or leave it with a Board member after you tour the building on July 10, 11, or 12. The results will be tallied by two individuals selected by the Board, and will be announced in worship and in the Communicator newsletter.
We invite you to pray for the leading of the Holy Spirit, and ask if God is inviting us to do a new thing.
We welcome your comments in the meantime, as we deliberate together ahead of the vote.
