Grace Reformed Network Conference

Building for the Future

Long-Term Plan

The purpose of the Long-Term Plan is to find a permanent home for GRC, central to the area, and financially within the means of the church

Acquire Land & Build

Minimum 3 acres Down payment Monthly payments Terms Option 1: Traditional Church Build Estimated Cost: $1.5M - $2.0M Option 2: Pre-engineered Building Estimated Cost: ~$500k Construction Loan Details to be considered: Down payment Monthly payments Terms
Total Cost
Land estimated cost: $500k. Traditional Church Build Estimated Cost: $1.5M - $2.0M. Pre-engineered building estimated cost: $500k - (costs include site work, permits, architect/engineering fees. For 6,000-10,000sqft and 200+ people). Requires deposit of 20-35%.
Many unknowns & variables which could increase time and cost estimates ~20-30%. Long timelines. Limited availability.
Build-to-specific needs including features for church use. Ability to add-on later if needed. Allows us to release the Franklin office & free up additional monthly cash
Other Comments
Need ~1 acre of land for every 100 parking spaces. Land also needs to be flat, well drained and without unduly onerous zoning or deed restrictions.
Other Financials
CRE loans usually have short-term maturity (5-7 years) based on 20–25-year amortization with a balloon payment maturity. Typically, at maturity the loan is then refinanced.