Pleasant View Church Building Project Informational Meeting Agenda

Pleasant View Church Building Project Informational Meeting

Agenda � Opening Remarks � Objectives & Background � Status of the Building Project � Catching the Vision � Phases & Implementation � Financing � Fund Raising Initiative � Next Steps

Objectives of Expansion v v v v Provide expansion to Children’s area Enhance the Nursery & Toddler area Provide much needed Handicap Accessibility Enhance Entrance under Roof Expand Lobby and overflow area w/Cafe Relocate and Enhance Library Provide for Additional Parking Improve Social Hall utilization

A Little Humor… Speaking of the social hall… From a church sign - “Weight Watchers will meet at 7 PM at the First Presbyterian Church. Please use large double door at the side entrance. ”

Why Now? v Aging Facility �Need Handicap Accessibility v Growth in New Ministries �Step by Step Shoe Ministry �Hearts for Hunger Food Pantry �Wildfire �Ignite �Small Groups v Kid. Zone Growth �Kid. Zone continues to expand serve as a growth driver of the Pleasant View fellowship

Why Now? v Favorable Zoning & Building Codes �North Hopewell Township has not adopted the restrictive building codes that other local townships have (e. g. York Twp. , Windsor Twp. ) �Commercial Re-zoning v Favorable Interest Rate Environment � Borrowing Costs are lower v Lower Commodity Price Environment � Building materials may be priced lower as various commodity inputs have dramatically declined in price.

Status of Project v v Last major addition was over 30 years ago. Recent Addition & Remodels include: �Fellowship storage room � update bathrooms v v Current initiative began over 3 years ago Formal plans reviewed & approved �Structural Engineer & Commonwealth Stamped v Preliminary Parking Lot Plans have been drafted

Status Continued � We are working with NH Twp to rezone the property to commercial � Adding roughly 80 to 90 parking spaces � Bidding & Contractor Selection – completed

Bidding Process ◦ Business Team provided the plans to three groups in order to obtain quotes. ◦ Quotes were independently received & reviewed by the Draftsman & Engineer. ◦ Draftsman & Engineer attended BT meeting to present the quotes and their recommendation.

Summary of Quotes Massaro (formerly Hogg Construction) $945, 000 Miles Construction $890, 000 Stewart & Tate $883, 500

Project Phases v 2016 – Parking Lot �Finalize the design, re-zoning and water management plans �Obtain firm estimates of parking lot construction �Raise funds for Parking lot �Complete the parking lot construction �During construction we will lose parking spaces therefore building the parking lot first provides the necessary overflow parking v 2017 – Building �Raise funds for down payment �Obtain financing �Complete Front & Entrance Area

Phases Cont’d. � 2018 Complete Rear addition Final Paving, Line Painting & Landscaping Finalize furnishings

Catching the Vision… � Daniel Miles

Exterior Renderings

Interior Renderings

Financing v v v Estimated Costs Raising the Down Payment Financing Considerations • Potential Loan Amount • Term of Loan • Estimated Monthly Payment

Estimated Costs Church Building $890, 000 Parking Lot $285, 000 Overage $131, 250 (15%) Total Estimated Costs $1, 306, 250

Down Payment v Minimum 20% Down Payment Required �$1, 306, 250 x 20% = $261, 250 v Benefits of raising higher down payment �Lower Loan balance reduces borrowing costs & required monthly debt service. �Gives an early indication of commitment to the project �Provides funding to pay for the parking lot expansion v It is critical that we raise a much higher down payment than the minimum

Loan Scenarios Down Payment $261, 250 Amount Borrowed $1, 045, 000 Amount Borrowed $783, 750 Monthly Payment $8, 613 Monthly Payment $11, 084 Loan Assumptions: 5% Rate, 10 Yr. Payoff Down Payment $522, 500 Total Interest Paid $285, 062 20% Down Payment Loan Assumptions: 5% Rate, 10 Yr. Payoff Total Interest Paid $213, 796 40% Down Payment

Loan Scenarios Cont’d. Cost of Building Proposal $ 890, 000 Overage - 15% $ 131, 250 Estimated Cost of Parking Lot $ 285, 000 $ 1, 306, 250 Down Amount Monthly Payment Borrowed 10 Year 15 Year Interest Paid 10 Year 15 Year 20% Down Payment $ 261, 250 $ 1, 045, 000 $ 11, 084 $ 8, 264 $ 285, 062 $ 442, 482 30% Down Payment $ 391, 875 $ 914, 375 $ 9, 698 $ 7, 231 $ 249, 429 $ 387, 173 40% Down Payment $ 522, 500 $ 783, 750 $ 8, 613 $ 6, 198 $ 213, 796 $ 331, 863 50% Down Payment $ 653, 125 $ 6, 927 $ 5, 165 $ 178, 163 $ 276, 552

Monthly Cost per Giving Unit 2016 Budget $ 350, 000. 00 Enhanced Budget $ 52, 500. 00 Estimated Building Cost Per Month $ 11, 084. 00 # of Giving Units Current Budget per GU Monthly Enhanced Budget Est. Monthly Mortgage Per GU Monthly Additional Outlay Per GU 50 $ 583. 33 $ 87. 50 $ 221. 68 $ 309. 18 60 $ 486. 11 $ 72. 92 $ 184. 73 $ 257. 65 75 $ 388. 89 $ 58. 33 $ 147. 79 $ 206. 12 85 $ 343. 14 $ 51. 47 $ 130. 40 $ 181. 87

Giving Required to Meet Budget & Estimated Building Costs # of Giving Units Estimated Monthly Total Monthly Current Additional Contribution Budget per GU Outlay Per GU Per Giving Unit 50 $ 583. 33 $ 309. 18 $ 892. 51 60 $ 486. 11 $ 257. 65 $ 743. 76 75 $ 388. 89 $ 206. 12 $ 595. 01 85 $ 343. 14 $ 181. 87 $ 525. 01

Fundraising Scrips Program Presented by Daniel & Lauren Miles

Online Giving Overview of Online Giving site www. pvcob. com Online Giving Button

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Next Steps Prayerful Consideration Raise Down Payment Ongoing Support

Next Steps � Prayerful Consideration ◦ Pray for wisdom and direction ◦ Pray for unity of the body Ø Is this building expansion God’s will for Pleasant View?

Q&A