MAy 19, 2021

MV Membership Vote for Construction and Bank Loan

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Good afternoon Church Members,

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Since MissionView’s inception in September 2013, we have met at Hoover High School for Sunday morning worship. The North Canton Schools have been very gracious hosts and have provided us an excellent facility to meet in. However, the intent was never to meet at Hoover forever but to eventually have our own “Basecamp” facility from which to minister the gospel and grace of Christ to our community. Since our beginning, the elders have looked for a potential facility and considered numerous options along the way. The 24,000 square foot building shell at 1320 West Maple Street came to our attention in late 2019. We then had feasibility studies prepared by the SoL Harris Day architectural firm that indicated the facility would meet all our needs. In February 2020, the members of MissionView voted unanimously to purchase the building for $300,000, and the subsequent offering was sufficient to allow us to pay cash for the property.

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Over the past year, SoL has assisted the building committee in developing the construction plans; we then hired Adkins Building Company as the construction manager for the project. Adkins has recently obtained bids for the project that total $3,168,508 and include allowances for material cost escalation and other contingencies. Based on a full review of our financial statements and projections, the Commercial and Savings Bank (CSB) has agreed to finance $3,200,000 for the project. CSB would not be willing to offer this financing if they did not feel confident in MissionView’s ability to repay the debt. Our 2021 budget projects $800,000 of general offerings and $204,000 of building offerings. Depending on the total amount finally financed, MissionView’s debt service will be about $200,000 annually for up to 20 years (we will, of course, endeavor to pay that off sooner). The church currently spends about $90,000 annually in lease payments for Hoover High School and its current office space. This money will be applied to the bank debt service in the future. Additionally, the people of MissionView have committed over $200,000 per year in Basecamp pledges for 2021 and 2022. We intend to renew this pledge annually until the building is paid off. Finally, statistics show that a church can expect to grow by 45% when moving into a new facility. Our budget projections have conservatively only considered a revenue increase of 17%. We feel confident that this commitment is within our means.

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The elders believe God has shown his favor towards this project in numerous ways, from the building purchase to the bank financing and the the favorable bids during a time of construction market volatility. We ask the members of MissionView to confirm their approval to proceed with financing and construction expenditures.

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If you would like to vote electronically, please click on the following link to do so. VOTE HERE
If you prefer to vote in person, ballots will be available at the beginning of service this Sunday in front of the auditorium doors. All voting must be completed by Sunday morning at 11:00am. 

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For His Glory,

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The MissionView Elders:
  Matt Haupt
  Todd LePage
  Randy Smith
  Josh Chandler 
  Pat Culpepper

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