Miracle Faith Dome Recap

1995 land-tracts 16 & 17 purchased for $80,000.00
tract 17 approx. $40,000
2003 expansion plans begin
2004 Community Council Hearing approval
2005 total cost of project approx. $2,400,000.00 to complete 1st phase

[includes: dome, air conditioning, parking lot; underground infrastructure: (electrical, water & sewer); walkways; landscaping; elevator, fire hydrants, existing sewer to code; office trailer to code (accommodation for future construction); fire sprinklers, etc.]

Refinanced debt / acquired $1,800,000.00
$600,000 went to service existing mortgage
$1,200,000 went towards current construction
$1,200,000 projected congregational contributions
Professional services and construction began
Capital stewardship campaign concluded / pledges begin
2005 - 2008 congregation contribution $699,562.00

Increasing costs due to hurricanes & cost of construction
materials*

2006 pledges continued
Shell of dome completed
construction phases continue
2007 pledges continued

Building Better Communities Grant awarded $605,000.00

Summary

$3,300,000 revised total estimated cost*
$1,200,000 construction monies from refinance in 2005
$2,100,000 revised projected congregational contributions
$   699,562 congregational contribution thus far - 2008
$1,400,474 balance to complete
$   605,000 Building Better Communities Grant
$   795,474 needed to complete Miracle Faith Dome