100th Anniversary Capital Campagn Q & A

The first thing we will do after we have received the disbursement of funds from our loan with the diocese is to purchase the land. We are currently finalizing the paperwork for the loan and the seller is finalizing the paperwork for sale of the land. I expect everything to be completed for this by August 1st. The next phase of the project will begin when we have sufficient funds in the bank to guarantee payment of expenses. In addition to the funds from the loan, we will need about $50,000 of capital campaign pledge payments. Some people divided their pledges over the course of one, two or three years. Fortunately, the amount of money that was pledged for 2018 will allow us to begin the major part of the renovation project as soon as we have that portion of money on hand. That means either waiting until the end of 2018 to begin or earlier if funds come in sooner. If a portion of your pledge is for 2018, please pay it as soon as you can. This will put us in the position of being able to begin as soon as the contractor is ready. Perhaps as early as September. We anticipate that Phase One of the project will take four to five months to complete.

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