Small Group Dinners
Has anyone else heard about the small group dinners? (Bet you thought small group only fed your mind.) Are there times when you would just like to fellowship with friends from church? Are some of your good friends in a group other than yours? Well we have a solution for you… stay tuned. (If you can’t wait, Margie Elder has the 411)
Property News
We have an offer on the property but it was less than we felt it was worth so we have made a counter offer. Stay tuned.
Well we didn’t have to wait long. Our counter offer was countered with some small changes. The Elder Board had already discussed the possibilities, and the new terms were still above the minimums deemed acceptable to the board. The result is the property has sold for:
Sell Price: $300,000
Down Payment: $100,000
Interest Rate 7%
Amortized Term: 30 years, Balance Payable in 10 years.
Please realize that in the last 3 years, no piece of land worth more than $100,000 has been sold in the Woodcrest area, yet ours sold in 14 days. Can you see God?
Building News
We have a new bridge loan that will extend out 1 year. We had no less than 5 banks competing for our loan. The best part is we were able to roll the entire loan together, which erases the April deadline to pay off the initial bridge loan. That will give us up to a year to show 80% Executive Office occupancy. Once that is done, we can apply for a standard loan.
Right now, the money borrowed, including the new loan is less than half the bank appraised value of the finished building. Praise the Lord, and can I get an Amen?
Construction News
Thanks to Toni & Bill Lincoln, Tom Elder, Sarah, Jeff Posth, Sam & Josh of course, and Tom & Ben Christopherson for the work they did on the Jesse Lane building. The sprinklers have been moved or capped, the dirt dug out to allow for concrete to be poured for approaches at the new door locations. The floors are cleaner, and the old electronic equipment has been hauled away -- thanks Toni & Bill.
Next week its my turn, and we will be working on placing the required ADA truncated domes on the sidewalk wheel chair approaches. What are truncated domes you ask, well come down and we'll give you a first had look at the ins and outs of turncated domes. Of course we always need cleanup, so if turncated domes aren't for you, there are plenty of other jobs that need to be done.
Jim Bloom
Jim@misisodeicc.org
Has anyone else heard about the small group dinners? (Bet you thought small group only fed your mind.) Are there times when you would just like to fellowship with friends from church? Are some of your good friends in a group other than yours? Well we have a solution for you… stay tuned. (If you can’t wait, Margie Elder has the 411)
Property News
We have an offer on the property but it was less than we felt it was worth so we have made a counter offer. Stay tuned.
Well we didn’t have to wait long. Our counter offer was countered with some small changes. The Elder Board had already discussed the possibilities, and the new terms were still above the minimums deemed acceptable to the board. The result is the property has sold for:
Sell Price: $300,000
Down Payment: $100,000
Interest Rate 7%
Amortized Term: 30 years, Balance Payable in 10 years.
Please realize that in the last 3 years, no piece of land worth more than $100,000 has been sold in the Woodcrest area, yet ours sold in 14 days. Can you see God?
Building News
We have a new bridge loan that will extend out 1 year. We had no less than 5 banks competing for our loan. The best part is we were able to roll the entire loan together, which erases the April deadline to pay off the initial bridge loan. That will give us up to a year to show 80% Executive Office occupancy. Once that is done, we can apply for a standard loan.
Right now, the money borrowed, including the new loan is less than half the bank appraised value of the finished building. Praise the Lord, and can I get an Amen?
Construction News
Thanks to Toni & Bill Lincoln, Tom Elder, Sarah, Jeff Posth, Sam & Josh of course, and Tom & Ben Christopherson for the work they did on the Jesse Lane building. The sprinklers have been moved or capped, the dirt dug out to allow for concrete to be poured for approaches at the new door locations. The floors are cleaner, and the old electronic equipment has been hauled away -- thanks Toni & Bill.
Next week its my turn, and we will be working on placing the required ADA truncated domes on the sidewalk wheel chair approaches. What are truncated domes you ask, well come down and we'll give you a first had look at the ins and outs of turncated domes. Of course we always need cleanup, so if turncated domes aren't for you, there are plenty of other jobs that need to be done.
Jim Bloom
Jim@misisodeicc.org
Amen! :)
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