[Q.15] How much do we need to raise?
[A.15] Estimated cost of the total project is in the $40M-$42M range. If we combine the $5M we have on hand with what we expect to receive in the final Homeward Bound receipts and the proceeds from the sale of the UBC Coral Gables property our total is $19M. This leaves the balance needed at approximately $23M plus $1,150,000 related to the missions initiative passed by the Church membership, Sunday, Feb 17. If we are able to give the full $24.1M we should be able to build the entire facility, furnish it completely, and move in without any long-term debt. If we give $15M, we should be able to complete the building, furnish it, but would move in with a long-term mortgage that would need to be serviced from our annual operating budget. If we receive any less than $15M we will need to review our construction plans and modify them accordingly (for instance, we may not be able to build the Chapel, exterior covered walkways, porte cochere, and multi purpose building etc.). The more we give - and the sooner we give - the more we save in interest, which brings the total cost down!
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