Immaculate Heart of Mary Church

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Immaculate Heart of Mary Church

• One Faith, One Family, One Future
• A Progress Report
• May 2008

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It is most important to begin by saying . . .
Nothing yet has been set in stone . . .
We want all the input we can get!
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The Journey So Far

• Back in the mid 1990s the decision was made to
  purchase the Johnson Street property and build
  the sanctuary first.
• The plan has always been to combine all of our
  ministries here at one location.
• We are now nearly finished with paying off the
  sanctuary construction project.
• We are ready to move into the next phase.

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Current Debt Update

• Upon completion of construction of the new
  sanctuary, we were left with a debt of 1.45
  million total.
• This debt had an original term of seven years,
  with a balloon payment of 550,000 due in
  February, 2010.
• Thanks to a successful campaign for debt
  reduction we have been aggressively reducing this
  debt.

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Current Debt Update

• As of the end of March 2008, we currently owe
  219,000 and we have cash restricted for debt
  repayment of 53,000 on hand, so our net debt is
  166,000.
• We have renegotiated this debt to reduce monthly
  PI payments to 4100 per month.
• We will retire this debt before next phase begins
  formally.

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Next Part of the Journey

• Father Jack created a Long Range Planning
  Committee to guide next phase.
• Keeping in mind our plan as always was to unite
  all ministries here at our new location.
• Town Hall meeting held in February 2006 had good
  attendance and was a strong back and forth of
  ideas, showing many needs being presented.

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Next Part of the Journey

• We hired an architectural firm, InStudio, to
  assist us with building designs and costs.
• They conducted needs assessments that lead up the
  presentation made at the next Town Hall meeting,
  held in March, 2007.
• The results of these assessments showed a huge
  amount of space was needed to meet all of the
  desires shown by our community.

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Next Part of the Journey

• The amount of space needed to address all of the
  needs requested resulted in a recommendation for
  two buildings one primarily for school use
  needing 61,000 square feet and providing for two
  classes in every grade level.
• The second building at 18,000 square feet was for
  other parish uses, including a fellowship hall
  space, administrative offices and faith formation
  classrooms.

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Next Part of the Journey

• While this responded to all of the needs, wishes
  and desires of all ministries of the parish, it
  now presented us with a new problem.

It was far more project than we could afford and
more than the Diocese would support financing for
us.
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Some Perspective

• The proposed building(s) project was projected to
  cost 12M to 15M in todays terms, which would
  escalate to 16M to 20M when built and
  furnished.
• By comparison, Bishop McGuinness cost 15M to
  build, and when built it doubled the debt of the
  Diocese of Charlotte.
• No other parish in the Diocese had built a
  project of this size and dollar scope.

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40 30 30 Rules

• On a building project in the Diocese of
  Charlotte, before you can begin building you must
  have the following
• 40 in cash
• 30 in pledges
• They will finance the 30 pledges and an
  additional 30 more
• Our Montlieu Avenue property will qualify as cash
  for this project approx 2M

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What Choices Do We Have?

• Do nothing at all
• Go for huge project, even if it means waiting
  until 2012 to 2015 to start
• Do parish hall first, school later (or vice
  versa)
• Try to meet as many goals as possible in a scaled
  down project
• We have chosen this last path to work along

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Main Drivers for the Committee

• We feel it is important to move forward now, not
  later to reunite on this property.
• All parish ministries must be responded to in
  best possible ways given our cost constraints.
• As it pertains to school space, certain
  requirements must be met, but we are endeavoring
  to be multipurpose everywhere possible.
• The sanctuary remains the architectural focal
  point of the property.
• Every attempt must be made to communicate to
  parish and school community as we go along.

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So Then What?

• We felt that this project would have to fit in an
  8M to 12M envelope in order to get Diocesan
  approval to proceed and in order to begin
  construction in 2010 to 2012 time frame.
• 1.2M to 2.8M in additional cash (counting 2M
  already have) and then 2.4M and 3.6M in
  pledges.
• We pushed back to architects and asked what this
  would look like given new budget.

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What Were the Tradeoffs?

• One building instead of two
• Rooms in building will be designed wherever
  possible to be multipurpose in use
• School space may have to be reduced from two
  classrooms per grade to one with some additional
  rooms in the plan for meetings, activities and
  possible overflow grade sizes
• Faith formation classrooms would continue to
  share same space as school
• Some sharing of resources will still have to
  continue for the time being

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Concerns We Have Heard

• Parish fellowship hall and gym spaces cannot be
  expanded easily later get them right now!
• Need to address sufficient educational and
  meeting spaces in this plan now rather than
  later.
• Multi-story construction is most efficient in
  some areas.
• Arent we just moving a pile of bricks from one
  place to another?
• School gets too much / school doesnt get enough
  we hear both!

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What About the Original Plan?

• We still expect to address future growth in a
  phase two.
• We believe that the first phase can be paid for
  in a nine to twelve year time frame, maybe sooner
  if campaign is successful enough.
• We continue to incorporate future growth on site
  in our planning.

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Three Different Looks

• We have currently three different looks at the
  project scope.
• Basic Look - 8.0 to 10.0M
• Basic Plus Shell Look - 9.0 to 11.0M
• Fully Realized Look - 10.0 to 12.0M
• We will focus in as we progress on refinement of
  cost estimates and as we assess possible campaign
  outcomes

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Where Do We Stand Now?

• Continue to solicit input from all parties
• Begin groundwork for capital campaign
• Assess final project scope as campaign progresses
• We have now selected a contractor, Ediface, to
  work with us in preconstruction planning and
  estimating

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The Capital Campaign

• We are working towards a campaign beginning this
  fall.
• The nucleus of the campaign committee is in
  place.
• We are involved in pre-campaign activity with
  major donors to assess what target for the
  campaign needs to be.
• We meet with the Diocese on May 27.

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A Word About the Campaign

• We are not kidding anyone here IHM Church is
  going to be fundraising for decades now for
  growth projects.
• However this project is the cornerstone.
• Nothing else can happen until this gets out of
  the ground.
• Everything else that happens can be done
  incrementally based on money raised.

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Let Me Repeat Again

• This project continues to evolve nothing is set
  in stone yet. We still seek and want input from
  all parties!

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Thank You for Your Input!