March 2023 Capital Campaign Update

by Jayme Trott, Co-chair, Capital Campaign

Status: We have MORE great news! The Hopewell Township Planning Board approved our proposed site plan and we now can move forward with hiring the general contractor for our project. Hopewell Township will now review the architectural plans for building permits, a process that should take about 6 weeks.

Don’t forget that our Chalice Lighter grant proposal to help cover the cost of the elevator has been approved in the amount of $40,000. The Capital Campaign Steering Committee would like to thank all who helped to write the grant proposal. Special thanks to Susan Irgang who pulled together disparate data, facts, and figures, created the pdf, and submitted everything electronically on our behalf. Many thanks also to Lori Rahn, who has agreed to be our Chalice Lighter Ambassador. If you would like to become a Chalice Lighter and help other congregations reach their aspirational goals, ask Lori or Jayme Trott for a brochure when you see us at church, or find the brochure here.

Timeline: We expect to formally engage the contractor by mid-March. Ground-breaking is anticipated in May and construction should take about six months. The sanctuary will be accessible throughout construction.

Financials: So far, we have raised almost $1,100,000 in Capital Campaign pledges. Approximately 88% of this amount has been collected through the end of 2022. We have spent $298,952 on parking lot expansion, permits, fees, and architectural/engineering services. Pledge collections are mostly tracking according to commitments – THANK YOU!

Our Capital Campaign Treasurer, George Faulkner confirmed with Northfield Bank that the extension and terms of our construction loan are secure through October 2023. Once we “tap into” that loan, we will be obligated to begin paying interest. After October, the loan will be converted to a 20-year Term Loan, initially paid from Capital funds, not from the Operational budget.

We will work with the Finance Committee to determine the optimal timing for our Phase 3 Capital Campaign, which will include a 50% match on the first $100,000 pledged! But you don’t need to wait! PLEASE, if you have not yet had a chance to contribute, consider making a capital campaign pledge or a one-time contribution. We will need everyone’s participation to realize this vision in support of our goals to Create Community, Celebrate Life, and Change the World!

Capital Project plans and schematics can be found here. This is a work in progress but should give everyone a consistent source for up-to-date information on the project as we move forward.

Jayme Trott and Susan Vigilante, Co-Chairs, Capital Campaign