Building Update Letter
The following letter was mailed to CrossPointe's members and friends on Friday, November 30, 2012:
Praise God from whom all blessings flow! The Lord has been abundantly gracious to us as a church family as we were able to secure our physical location for many years to come. The purpose of this letter is to update you on where we stand and the direction we’re heading with the property.
What has transpired thus far?
• On October 2, we purchased the entire Harmony Place shopping center at foreclosure proceedings for $3.5 million.
• On November 15, we sold off the front portion of the shopping center to Grayhawk Homes and put the proceeds towards our initial loan. We retained ownership of our current building and the two buildings next to the church, which are currently occupied by Linens for Less and Playful Pals.
• This leaves us with just over 72,000 square feet of space. The building we are in now is 52,000 and the two side buildings are approximately 10,000 each.
Where do we stand financially?
• All of this leaves us with a mortgage of approximately $1.85 million. To recreate the square footage we now have in another location would have cost us many millions of dollars more. Praise God!
What is happening now?
• We anticipate that in the coming months we will develop and present a plan to the church for the development of our additional space for future ministry use.
• Linens for Less and Playful Pals will continue as tenants for the foreseeable future, but they know that we have long-term plans to use the two buildings for additional ministry space.
• Though we do not yet know the cost of refitting the two additional buildings, we think it wise to pay off our mortgage as soon as possible. To that end, if you are inclined to help pay this debt, we will apply 100% of all donations for the building toward the outstanding principle.
Finally, let me say again how grateful we are to God for his goodness to us. This has been a long and at times anxiety-filled process and the Lord was gracious. But, it is so important for us to realize that the purchase of these buildings is just a means to a much greater end—our ability as a church to get outside of ourselves and give our lives away for the glory of God and the display of His gospel in our city and the nations.
For the elders and pastors,