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FAQs about the Leesville Road property, located at 9225 Leesville Road.
Here are some questions we’ve been asked regarding moving our Six
Forks location to a permanent facility. They are in no particular
order. If you have a question that isn't here, please EMAIL us.
1. What do you mean by a 60-day review?
It means we have the building under contract and have given earnest
money to the owner. We now have sixty days to review the facility and
the finances. We will review things like: is it big enough? can we do church they way we do church in it? Is this a wise financial decision? If the answer to any of those is "no" we will not pursue the facility.
2. Why did you choose to pursue property on Leesville Road? Our site selection team pre-determined that we should consider anything
between US70 and US1 within a mile or so of 540. This property is
within our search area and is about 4 miles from the Six Forks
theatre.
3. Where will the Lifepointe Offices be?
For now, they will stay at the Hub on Durant Road. We hope to stay in the Hub for at least the 2009/2009 school year.
4.Do we have to leave the theater? Not
immediately, but the future is unsure.
5. Why don’t we rent space instead of purchasing? Rental space is very hard to find, and in some cases more expensive than purchasing. If we did purchase the Leesville property it would be less than rental options we have considered.
6. Are you going to combine both sites? We
are a multi-site church. There are no plans to change that.
7. What is the purchase price? 2.2 million.
8. How much will it cost to fix it up? We have budgeted $800,000.
9. Why is the down payment $220,000? Because
we have to get 10% of the building price in cash to close the loan.
The up-fit costs are under a separate loan. Everything we raise above
the $220,000 will lower the monthly payment.
10. Will both sites contribute to the $220,000? Yes, we will ask both sites to help. We are one church. What makes one site strong, makes both strong.
11.How much will the payment be? Around
$20,000 per month or less depending on how much is raised. There are
125 giving units/families at Six Forks, when you deduct our current
rents then add in the operating costs, that averages about to 30-39
dollars more per week per unit. This is based on our current
estimates. Please note: If everyone tithes weekly, we could pay this
off a few years. And that’s not even counting the growth we expect to
see.
12. Why do this when the economy is down? This appears to be a great price on the building and land. It has a lot of visibility. Part of the review period is determine if this is a wise financial decision.
13. If I give toward the $220,000 and deal falls through, can I get my money back?
We are only seeking pledges now, and will make a decision based on
pledges. If we proceed beyond the sixty day review we would ask for you to then pay
your pledge.
14. I love the theatre and came because of the theater. Do we have to move? Yes,
we will eventually. We are going to help people connect with God no
matter where we are. The theater is not who we are, it does make for a
great atmosphere, but God will work beyond it.
15. How soon will this happen? Under the best-case scenario, we would be in the new place by early 2010.
16. Can Lifepointe people do the work? We will
save tens of thousands by using our people who have expertise in
construction, site design, interior design, etc. If you would like for
your company to bid on some of the job, or donate work, please contact
the church office.
17. Where do you get the financing? Church
Development Fund. This organization is a partner to Stadia, our primary
planting organization. They have worked with us for three years,
reviewing potential properties and our finances.
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