PARISH ACTIVITY CENTER......the time is NOW!
As you have heard by now, we are on our way to fulfilling a lifetime dream for many of us here at St. Columban. We have launched the final phase of the Capital Campaign to raise funds to build a Parish Activity Center, a multi-purpose facility that will meet the needs of parishioners of all ages both now and for future generations. Please give serious consideration to being a part of this historcal moment. We can do this...we can make this happen...and it's going to take every one of us to see the dream come true. Fr. Larry
Through mid-December, 25% of parish households have responded indicating whether or not they are financially able to support the project. To date we have raised just over $850,000. This is a great start and plans are being developed to raise the remaining amount needed. The next phase will target the 75% of parish households from whom we have not heard.
We have received questions about how soon construction can begin. There have been changes within the Archdiocese over the past few years regarding how construction projects are handled. In years past, a parish could begin construction on a project having raised only a portion of the overall amount. This is NO LONGER the case. The Archdiocese has been very clear that they are no longer acting as a lending institution.
So how do things work now? First, a parish obtains pledges and/or cash for the estimated cost of the project. Second, with the pledges as collateral, the parish obtains a bridge loan from a bank that provides the cash to begin construction immediately. As pledge payments are received by the parish, they go right back out to the bank to repay the bridge loan. We cannot begin construction until we have cash and pledges equal to the cost of the project.
The original estimate to complete the Campaign was $3.7 million. We are exploring options to reduce the cost while still building a quality Activity center, however, this effort will require participation by all of us. Information Sessions were conducted last month. Please click here for a list of Frequently Asked Questions from those sessions. Pledge packets have been mailed to each parish family. Please mail back your pledge form to the parish office Attn: Fr. Tensi, 894 Oakland Road, Loveland, OH 45140 as soon as possible. If you are in need of a Gift Intent Form, click here. Questions may be directed to Cathy. We thank you for your consideration of this final phase of the capital campaign.
