PROJECT HUDSON VALLEY
WE HAVE DONE THE RESEARCH
WE HIRED A STEWARDSHIP CONSULTANT
Barry Finkelstein led an energizing Next Steps Weekend (NSW) for UUCHV. NSW is the first step in effectively utilizing a consultant to support our goals and aspirations as a congregation, and provides us exceptional insight into the options before us as a congregation. A congregation is a community, a network of systems. The NSW provides the opportunity to examine and measure that community and those systems across a wide spectrum, not just stewardship, to ascertain the overall health and capacities of the congregation. Thank you to everyone who participated!
Our Facilities Task Force has met with our realtor and a local architect, completed extensive research, and considered our vision statement for our future home.
The Task Force explored TWO OPTIONS:
Option 1: Buy a building and renovate or add a Sanctuary
Option 2: Buy some land and build a new Hall & Sanctuary
The Basic Requirements:
A Minimum 1800 sq ft Sanctuary and 3000 sq ft Hall on at least 2 acres of land in Peekskill, Buchanon, Cortlandt, Croton, or Ossining
SOME REAL OPTIONS WE MISSED OUT ON BECAUSE WE WERE NOT PREPARED TO MOVE FORWARD
AREN'T THESE POSSIBILITIES INSPIRING?!
Whether we buy a building and update the property to fit our needs OR buy land and build from scratch, the cost is the same.
In thinking of real estate, construction, and contingency costs, this leads to a grand total of
$1.2 - $1.4 million dollars
If we SELL our current facility for the estimated value of $500,000
And we RAISE $600,000 in our Capital Campaign.
There is a difference left of $100,000 to $500,000 for which we would take out a mortgage.
The idea of a mortgage seemed scary at first - but to offset this, a main focus of our new building will be to create rental space that is appealing and that promises us an income. We know that our old tenants added over $20,000 per year to our income and we anticipate a yearly mortgage payment of $6,500 - $35,000.
Once our Capital Campaign is complete and we have an amount pledged by our generous members, we'll take our numbers to a bank to discuss what our options are and what we should be doing to increase our credit health as we head towards our next steps: Searching for a new building or land!