About Us Stewardship In Challenging Times
We first started our building program in 2006 with a building feasibility study, and here we are, shovel ready
with the design and permits approved by the City of Federal Way just waiting for us to pick up. We have
reviewed two loan offers and will be presenting this material to the congregration this Sunday, March 7 at
9:15 AM, to obtain a vote on the financing and to begin construction. Just think about the journey we've
been on the past 3+ years. In fact for over the past 20+ years. God's timing couldn't be more perfect.
Think about that while you read the following excerpt from an article published in Worship Facilities
Newsletter, Nov/Dec 2009.
For His Glory, and His alone
What did we learn from 2009 and what will 2010 bring? (End Notes: The Reset Button Has Been
Pushed ..by Don Lawson)
2010 brings significant opportunities for churches to take advantage of historically low construction costs.
Construction cost reductions will continue to save churches 20%-30% from recent years. This window of
opportunity is projected to last throughout 2010, so it will be one of the best times in decades to remodel,
refurbish or build new facilities. The quality of construction has improved as contractors and subcontractors
have downsized, leaving the most experienced and talented construction professionals in the construction
workforce.
In some communities, churches are strategically located to be able to take advantage of developing mixed-use
facilities. These developments can become focal points in the community and can provide much needed
outreach ministries. These opportunities will position the church as the heart of its community and provide
reoccuring revenue streams.
Churches will have greater access to historically low-cost financing and funding sources throughout 2010. Lenders
recognize that churches can be great credit risks if the lending is handled responsibly. Churches will have greater
access to numerous funding sources, including conventional loans from banks, credit unions, denomination
lenders, bond providers, and private equity funds. There is no shortage of available capital for churches, and the
historically low terms and conditions will continue to be extremely attractive.
The combination of historically low construction costs and extremely attractive interest rates will provide an
unprecedented opportunity for churches to strengthen, grow, and enhance their ministries in 2010. For those
churches looking ahead to the future, 2010 can become a milestone in the history of the church. 2009 is behind us;
2010 will present great opportunities for God's Kingdom. Now is the opportune time to position your church for the
future.