Moving Forward, Part 2!

Moving Forward, Part 2!

Heather Millar, President

In last week’s In The Know I reported that during our recent Congregational Conversation “we clearly heard one main message, give BEEC2 the green light to implement Phase 1 now. Much support for financing the shortfall was expressed, although some raised concerns about a balloon payment. The Board took action during its February 23rd meeting to authorize financing up to $340,000 to complete BEEC2 Phase 1.” Later in the article I noted that we heard from several breakout rooms that we need to be transparent about our decisions. 

This week I am offering quotations and numbers from the various breakout rooms that support what we heard. At this time I am only citing instances that relate to the three topics reported in last week’s blog. I will report about additional topics in the future.

Not all groups summarized their positions with green, yellow and red light designations for implementation of Phase 1 now . Five groups did.

  • 29 Green
  • 5 Between Green and Yellow
  • 3 Yellow
  • 1 Red
  • 1 No Opinion

The following are among the comments regarding implementation of Phase 1 now. As you read you will notice almost all, but not all, offer enthusiastic support.

  • Very excited about the plan
  • I want it to happen 
  • This is the right time to look at the future 
  • I’m totally on board 
  • I think it’s a good idea
  • On group reported: uniform support for doing BEEC#2. Indeed, some folks thought that we should be doing more now 
  • We need to be bold in this society 
  • I know I will l get an “ask” and I don’t care
  • Convinced by Anastassia’s comments about the importance of a better narthex
  • Need to actively seek new members which will require pleasing and welcoming front foyer 
  • New foyer will allow greater options for gatherings after Service, less crowded, outside, etc.
  • Very enthusiastic, especially about the sprinklers
  • Convinced by the argument that this is a good time given that the building is vacant
  • Feel confident the congregation will step up financially, just as individuals in the past have
  • I am supportive of the plan. We do need to get the work going, and I don’t want the financing to be a sticking point for not doing it at all. Do not let indecision stall the process
  • If we want to have it done before opening the church in October, we need to start the work very soon

The next three statements indicate not all expressed enthusiasm.

  • Cautiously optimistic
  • Get things done as inexpensively as possible
  • Questioned the need to have this happen now;

One person touched my passion for baseball by summing up this section of comments: “If we build it, they will come”

All groups reported ideas about financing. Many were very specific.

  • When the church built the very first addition to the original sanctuary it was funded by members who held the loans themselves (they didn’t get a mortgage), those members lent money directly to the church
  • The larger monthly payment of $2500 could be made if 200 pledge unites increased their pledge $12.50/month
  • In another UU Church, a group of people loaned the church $50,000/each at a low interest rate
  • Wondered if increasing rents might help a little bit with the mortgage.
  • Check with UUA for loan
  • Consensus is that this group is supportive of the proposal and leaves the financing choice to the Board. 
  • I advocate a combination:  Include some self-financing and do a smaller mortgage. 
  • Could the Endowment Fund finance the loan at a more reasonable rate than has been quoted the bank? 
  • I couldn’t possibly be a green until I saw the details terms of the loan. I do not support using the Endowment Fund. We do have a window now with low interest rates. Let’s take advantage of what we can do now
  • If we can’t QUICKLY come up with an alternative financing plan, I am willing to do the mortgage with the bank. However, would like to have as small a mortgage as possible
  • Ask for other financing alternatives from the congregation
  • Solicit donations and keep the loan as small as possible 
  • Use the bank with the best terms
  • Difficult to judge scale of risk – what are the vulnerabilities?
  • Some concerns expressed about the balloon payment putting us at risk down the road. 
  • Several voiced a concern about a balloon payment
  • Someone wanted “no balloon payments”
  • A balloon mortgage is not as scary as it sounds that you could make adjustments prior to the balloon payment being due. 
  • Need details of what banks may offer to compare apples to apples.

And some expressed caution.

  • Try to keep the mortgage small. 
  • Very skeptical about us being able to afford a loan
  • I do not think we should take out a loan.

Multiple groups expressed concern about the Operating Budget.

  • Concern about impact on the operating budget: We will have a mortgage payment on top of a stretched operating budget. Where will we be in 10 years? 
  • Increasing negative impact on operating budget – [Several had this concern]
  • The Stewardship Team is being mindful of operating vs. capital budgets and the impact on operating and they are working with a consultant on best practices and alignment with our values
  • Concern by most about making the commitment and compromising the operating fund
  • Concern for operating fund needs for new ministry model.

These comments are reflective of others received. They illustrate support for doing BEEC2 Phase 1 now and the consideration of some financing model. Look for more details of what you said, responses to your ideas and progress on decisions made in future editions of In The Know.