Roof and Stonework Restoration Project Report
We are pleased to report that our 21-month Restoration Project has now
reached “Substantial Completion”. Some minor corrections to the front stair railings need to be finished and a small amount of landscaping will be completed once the ground is frost-free.
The total cost of the project is just under $2.5 million. To date we have raised close to $941,000, consisting of grants, monthly donations by members of the congregation and one-time gifts by church and community members. In addition, a number of Central Church members have made significant 5-year pledges to our Restoration Fund.
In 2021 we negotiated a bank loan to pay for the restoration work. At that
time, the bank charged us a very reasonable floating 2.45%. This rate has
almost tripled over the last 21 months, creating significant pressure on us to pay off (retire) the loan.
As a community of faith, we are challenged with raising the remaining $1.5 million and interest payments to retire our loan in at most 15 years.
Keep in mind that at the current bank prime rate, a $1000 donation now, will save us $800 in interest payments over the next 10 years.
We ask you to prayerfully consider how you can assist us in retiring this financial debt in fewer than 15 years.
Is anything too hard for the Lord.
The Fundraising Steering Team
Jan. 20, 2023