If we don’t act, we will likely lose our current campus location. Finding alternatives would be challenging, and we’d be navigating uncertain waters for our congregation. The current owner has indicated that if we do not purchase the building, it will be sold.

The building’s owners have chosen this time to sell. We don’t control the timing, but we can control our response to this pivotal moment.

Church leadership has taken action to address the FY2024 budget and expenses and we are currently operating within our revised giving targets.

Our monthly mortgage will align closely with our current lease payment, and unlike a lease will not have an annual escalation rate. Additionally, owning provides us with a $30k annual tax benefit due to nonprofit tax breaks related to the property tax.

While rates are higher, they remain historically low. Our ability to refinance exists, and when balanced against the opportunity to own, the finances make sense.

The sellers originally requested a purchase price of $4M. We were able to get them to agree to a $3.8M after we shared that a valuation of the property came in at $3.7M. The bank we are working with has requested an official appraisal and they expect the valuation will go above $3.7M. Our history and capital improvements to the property further amplify its worth to our congregation.

Yes, according to the bank, our equity in other properties, combined with our track record of consistent lease payments, puts us in a strong position to take on this commitment.

No, the current lease agreement is very limited in what it covers related to upkeep. We currently cover all expenses related to upkeep with the exception of structural repairs.

We’ve diligently assessed numerous properties in and around Westminster for many years. This building aligns with our needs and budget. Owning it provides future opportunities for expansion and adaptation to serve our congregation and community better. Additionally, it’s hard to assess the value of being a church that sits within view of Route 140.

We’ve explored the mall option, but current ownership and management policies don’t support a church presence there.

From the day we stepped foot in this location, it was clear God had called us to the city of Westminster. In addition, relocating risks fragmenting our Westminster congregation given the location of many of those attendees. Many would face challenges, especially those in the north and west, possibly diverting to other local churches. This could strain our overall church’s financial and community health.