All-Church Quarterly Strategy Meeting (April 2012)
Highlights from April 29 Strategy Meeting included the election of three new elders, a Treasurer’s Report, an elder motion authorizing Bethlehem FPA’s (Financial & Property Administrators) to refinance existing mortgages and establish lines of credit, a report on the South Campus land purchase, and an update on a referred motion.
See the April 29, 2012, Treasurer’s Report.
The elder motion—described in three points below—requesting the congregation to authorize the FPA’s to refinance existing mortgages and establish lines of credit was passed:
- That the FPA's be given authority to refinance Bethlehem’s current mortgage loans such that new mortgage amount is no more than the current (~$6.4M) mortgage amount, and new mortgage rate is less than our current loan interest rates (5.5%).
- That the FPA's be given authority to contract for a (operating) line of credit of up to $1M and use the church's assets as collateral for this loan.
- That the FPA's be given authority to contract for flexible loan financing to be used for purchases related to a possible South Campus, with the maximum loan cap amount for this loan and the mortgage refinancing amount not to exceed the current TCT $10M debt cap.
Jon Grano, Lead Pastor for Operations, commented that current refinance bids from several banks may save Bethlehem $50,000 to $100,000 per year in interest.
Report on South Land in Lakeville
Klaas Van Zee presented a report on the property purchased in Lakeville for the South Campus:
Details of the Cost
- 12 acres for $760,362.00
- the property on Jurel Way was $1.1 million
- Wal-Mart purchased the land across the freeway for $3 million
- development costs on this property will be substantially lower (possibly $500,000 less)
- this location is better
- closing on June 19
- preliminary building design site layout work (already started) done and submitted to the city for approvals
- begin building
- start worshiping in our South Campus
Report of the Council of Elders on a Referred Motion
Jon Grano presented a report from the Council of Elders that a referred motion from our July 2009 QSM (“Bethlehem go on record to formally support parentalrights.org”) not be adopted, as it conflicts with Bethlehem’s Guidelines for Political Involvement document. After much discussion, Elder Chairman Tim Johnson welcomed a motion to postpone the referred motion from the Council of Elders until the next Quarterly Strategy Meeting. The congregation approved this motion to postpone by voice vote.
Thanks to Church Clerk Sarah DeWire for her assistance in the preparation of this post.