On Saturday, April 24th as we celebrated our sixteenth anniversary as a parish, Fr. Josh Swallows, our Parochial Administrator, presented his vision to continue the development of our parish campus.
We are hoping, in the very near future, tobegin construction on a Parish Office and Ministry Building to replace the old and rundown modular units that we are currently renting.
Fr. Josh described the 14-year-old modular units as “the single biggest handicap we have faced for moving forward” with developing the campus due to the increasing rental costs of the units.
The concept is to trade rent for debt and to minimize the impact on our current financial picture, with the ultimate goal of building our church.
June 9, 2021 – Update
Dear Most Precious Blood Family,
“If the Lord does not build the house, in vain does its builders labor.” – Psalm 127:1
I know so many of you have been keeping our parish in your prayers today, because of the Diocesan Finance Council meeting we had scheduled to discuss and seek approval to develop our parish and build the Ministry and Parish Office buildings. I just wanted to let you all know as soon as possible that the meeting went very well, and we have been approved! Praise the Lord!
I will not receive an official email from the Diocese for a couple of days, but I requested special permission to inform you all now, and it was given! I will be moving forward with plans for a ground-breaking celebration in a few weeks. Bulldozers are coming and excitement is building!
From the bottom of my heart, thank you all for such an amazing response to this project, and for your love for the Church and of Most Precious Blood.
June 4, 2021 – Update
To date, we have received over $755,000. These are funds actually deposited in the bank to show the Diocesan Finance Council. We have an additional $220,000 pledged for a combined total of $975,000! This was done in just over a month. Praise the Lord!
This allow Fr. Josh to present our plan to the Diocesan Finance Council on Wednesday, June 9th. Now, we need all your prayers for a positive outcome from the meeting so we can continue with the process of building!
If approved, our actual loan payment would be calculated at the end of construction, and our loan payment will be lower thanks to the money pledged and any additional money or pledges we receive throughout the year.
Challenges to Building: Finances
Rent paid on modular increased last year by 25% from $75,000 to $96,000 per year!
The work done by Next Generation’s Priority 3 Team guided us tremendously in understanding Most Precious Blood’s financial situation.
The Diocesan Finance Office assessed our capacity to take on additional debt in the interest of building.
The Diocese concluded the maximum loan amount would be $750,000. The Welcome Center we had originally planned to build could have potentially cost 6 to 7 million dollars!
Reasons for building soon
Constructions costs continue to increase.
The contract on the modular units expires May 2022, with another possible rent increase if we need to renew the lease.
Turning the liability of the rent expense into an asset by building to reduce our to total parish debt with the ultimate goal of building our church within 10 years.
Estimated Cost of Construction $2,600,000.00
Loan Capacity Available $1,900,000.00
Initial capital needed to
reduce current debt
in order to bring our plan to
the Diocesan Finance Council
for approval. $ 700,000.00
Complete a pledge card available in the Narthex and at the Parish Office. Drop the completed card in the Offertoty Box or at the Parish Office.
Click here to complete your Pledge Card and donate Online.
Click here to Donate Online. When you log into your account, select ADD TRANSACTION. Then from the menu select CAMPUS DEVELOPMENT DEBT REDUCTION to make your one time or recurring donation.
Parish Financial Overview
Offertory and Debt Reduction Collections on track to exceed FY 2019 levels
Expenses trending below FY 2020 levels
Operating Excess (net income) to meet or exceed FY 2020 level
Keep moving forward!
Some of you have asked why don’t we just turn the Parish Life Center into the church? Here are some reasons:
Cost. Transforming the Parish Life Center into a Church means we would ultimately lose the ability to use that space for many of our ministries (i.e. we could no longer do a fish fry in a permanent church). This would necessitate the need to build a much larger building (such as the original Welcome Center) than what we are currently proposing. In the end, transforming the Parish Life Center into a permanent church would carry similar costs when compared to our current plan.
Time. Building something that could accommodate all of our ministry needs (when considering the ministry space we lose by transforming the Parish Life Center into a Church) would require us paying down all of our current debt before we could begin building. We need to move forward quickly so we can stop paying rent on our modular units and build assets.
Most Precious Blood is characterized by two main things: Communion and Community. We love the Eucharist, and we love to spend time together. Our final destination cannot be a parish without a Social Hall!
Many of our faithful and generous parishioners contributed to make the Parish Life Center a reality over 11 years ago with the goal of continuing to develop our campus and eventually build a church. Transforming the Parish Life Center into a church would be frustrating and counterproductive for many of these parishioners to witness, and should not be done if we have a better option.