2020 Point Vision

Phase I

Perdido Key Campus | Worship Center

  • Stage Reconstruction | cut down stage + rear wall removal to increase seat capacity
  • New Sound Equipment to align with new stage configuration
  • Repaint all interior walls
  • Replace all floors

Elberta Campus

  • Repaint interior walls
  • Replace flooring
  • Update Nursery and Student Facilities
  • Update Worship Center seating using existing chairs from Perdido Key
  • Update Sound and Lighting using existing systems from Perdido Key

Aggressive Debt Payments

  • Increase mortgage payments by $6000/month to be applied directly to principle

How is this paid for?

  • Construction will be paid for with cash on hand.
    • Please note that this don’t not utilize Cash Reserves – 3 months operating cash and $35,000 emergency building repairs)
  • Increased Debt Payments – To be paid by monthly giving in excess to 2020 budgeted offering and expenses

Result of Phase I

  • Increased Capacity in Worship Center allowing for future growth
  • Reduction by nearly 50% of mortgage balloon payment due June 2023 (leaving $288K due in lieu of $500K due)

Phase II

Perdido Key Campus | All Facilities

  • Exterior Painting
  • Worship Center Visual Experience Update | Projection System, Screens, Lighting

Balloon Elimination

  • Eliminate the remaining Balloon Payment Due

How is this paid for?

  • Capital Campaign starting June 7, 2020
  • Vision Goal – $500,000
  • Work on Phase II will begin when the church has commitments to meet the goal of Phase II construction and debt elimination.

Result of Phase II

  • Zero Debt
  • Facilities including technology to be relevant and effective through the decade

What if we do nothing?

  • $500,000 balloon payment due requiring refinancing at rates in 2023.
  • Continued Aging Facilities
  • No room for growth in Sunday morning services.