Dear Redemption Church community,
Here is a summary of a more lengthy report to the membership which was circulated by the board and elders earlier this week on the status of the sale of the Bernice Gerard Ministry House (BGMH) and the non-refundable deposit which the church has received. We want to keep everyone in the loop!
As David announced in mid-January, subjects were removed on time. The non-refundable deposit was paid later that month.
About 40% of the deposit is pre-committed to discharging a covenant on the property prior to closing. Another 45% is being used now to pay off one of the church’s mortgages in order to save on interest payments and to free up cashflow for ministry.
The board and elders have allocated the remaining 15% of the deposit to significant repairs/refreshments at the Collingwood building. It has been our conviction throughout the lengthy process of looking for the right buyer for the BGMH that the sale proceeds be re-invested entirely in capital assets which will support the church’s ministry. We feel that it is important both for financial sustainability, and to ensure that we do not relax our collective discipleship around giving, that the sale proceeds not be used to fund monthly operations.
The decision to invest the balance into Collingwood is also based on the board and elders’ recognition that even though Collingwood may not be our long term home, we are not going anywhere for at least the next two years. The newly struck board committee which is charged with looking at the important questions of the facilities options for the church’s long term future (including consideration of options as diverse as staying at Collingwood and renovating in place, buying an existing building, or co-developing a new building) has issued a discussion paper which the elders have begun ‘discerning their way through’, but even if a decision on the general direction is reached in the next few months, development permits and construction will take a minimum of a year and a half. Accordingly, some of the greatly needed significant repairs and refreshments to our Collingwood building should not be put off any longer.
The maintenance committee, with guest board representation, is already working with the staff and others to draw up a prioritized list of items and are moving forward with costing, considering opportunities for all of us to participate (including financially, through work parties, and through soliciting building material donations), and getting these projects underway in short order. In fact, the first of these projects (dealing with the fence along Collingwood street) will likely be underway very soon.
So keep your ears open and eyes peeled for ways that you can be part of us renewing our building to ensure that our ministries, both within and beyond our walls, go forward without impediment. If you would like to give input into the upcoming renovation projects at Collingwood, feel free to speak with chair of the facilities committee, Ian McLeod, or board member Devon Carbol.
With appreciation for each of you, and on behalf of the board and elders,
Geoffrey Trotter; interim board chair