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Finance

Cost Estimates
Fee Estimation at Design Phase

  1. Hire MEP Engineer  $16,000-20,000

  2. CITY permit review & submission fee   $7,000-10,000

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Initial Construction Cost Estimation

  1. JM Construction, LLC: $1,180,000-1,250,000
    (Based on $150 labor per s.f. [5,857 s.f.] + $100K structural + $200K finish material)

  2. Simply Building Inc.: $950,000-1,000,000
    ($650K Construction + $100K structural + $200K finish   material)

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Ways to Fund the Project:

One of the following options or combination of these options:

  1. Past - Using church general fund reserves

  2. Present - Raising funds among SFCAC Family

  3. Future -Borrowing funds from Orchard Alliance

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Why Orchard Alliance? Who are they?

  • Formed in 2018 consolidating the Orchard Foundation and the Alliance Development Fund (ADF)

  • A financial stewardship ministry under C&MA

  • Helps Christians develop stewardship plan when offering gifts

  • Provides church financing, church project advisement, saving & investment products

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Orchard Alliance – vs. Conventional Lenders​

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​Why Orchard Alliance? Other Unmatched Benefits

  • Make loan decisions not just based on financial aspects but also church’s Kingdom work

  • Offer self-funding rate discount – lower church loan interest rate by having church members invest in OA’s CD

  • Refund interest payment back to church (not guaranteed, refunded amount based on loan amount)

  • Have the motivation and flexibility to save problem loans

  • Help stewarding our interest payments

  • Pray for borrowing churches

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Financial Implications For The Funding Options

PAST: Using Church Reserves

  • $500K as of Sept 2020

  • May only contribute a small amount as church has to maintain 3-6 months reserve to keep all ministries up and running

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PRESENT: Raising Funds among SFCAC Family

  • Set a fundraising target (possibly by phases)

  • Organize fundraising events/efforts

  • Church members take ownership of the project and give by faith

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FUTURE: Borrowing Funds from Orchard Alliance

  • Need 2-6 months for underwriting and processing

  • Once approved, 2-4 weeks to close the loan

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Currently, this project has not incurred any cost to the church. All works are done by brothers and sisters from various ministry teams who have been voluntarily and faithfully dedicating their personal time in engaging, researching, consulting, planning, measuring, reviewing, designing, and revising on all aspects of the project. We are thankful for these brothers and sisters who responded to His call by faith and dedicating their gifts and professional expertise.

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