Important Announcement

Our District Superintendent has authorized a called church conference meeting on Sunday July 4th to officially approve the amount of the loan from the Texas Methodist Foundation. TMF is recommending a 20-yr loan for $342,000 but a temporary bridge loan for $595,000 to pay for construction costs. We will have the conference at 11:50 and the meeting will last fifteen minutes. All are invited, but only official church members may vote. Anytime a significant loan is taken out by a local church, the United Methodist Book of Discipline requires a church conference.

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About Trinity UMC

Trinity United Methodist Church is not a church that has all the answers, but we do know the source of our hope, healing, and love. Your continued participation is welcome as we seek to serve God through each other, our community, and our world. Please feel free to contact us if you have any questions or would simply like to talk. Trinity United Methodist Church is a dynamic community of people, who through their trust in God's faithfulness, strive to provide an inclusive, joyful, loving, and caring environment. In this community, people can find spiritual nurture and growth, mutual support of individual needs, and a sense of family. Reaching out through vital and creative worship, people-centered programs, and social and environmental stewardship, this congregation serves the local and global communities.

3 thoughts on “Important Announcement

  1. David,

    Providing a bridge loan is the Texas Methodist Foundation’s (TMF) way of helping us to do construction work before all the money is in from the Capital Campaign. They are in the business as a non-profit lending and investment institution and are experts are determining what churches can and cannot afford. They are out to help Methodist churches succeed in their campaigns. They have conservatively determined that a church our size (membership as well as budget) can handle a 20 year mortgage of between $342,000 and $367,000. When our pledges are in and we have received the matching funds of $150,000 from the UMC Austin District, both which should occur by the end of the year, we will be left with a 20 year mortgage of between $342,000 adn $367,000. In other words, Jan 1, 2011 we should be at the point of the regular mortgage with the bridge money paid down. We will get to that number through $250,000 in pledge money and $150,000 from the Austin District UMC. Any money that comes in before Jan 1st will be deposited into our TMF account so construction costs can come out of real money before drawing from the bridge loan. The earlier people give their pledge money, the less interest is used from the bridge loan. I hope this explanation is clear. Please feel free to call me if you need further clarification. Thanks for your question.

    Sid

  2. I will be out of town on July 4th, so will ask this question here: how will the “temporary bridge loan” of $595,000 be repaid?

  3. Pingback: Upcoming Meetings/Events « Trinity United Methodist Church

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