Why We Expanded Our Building
Our goal throughout was to address the following parish needs without changing the warmth, charm, and traditional appearance of our church, and without disturbing our fine 1992 addition.
Benefits of Expanding
Increase church seating capacity
Provide for more spacious arrangement of church seating
Increase available meeting spaces for flexible use for faith formation gatherings
Further increase available parking for worship and events
Update and modernize church kitchen and expand church Hall facilities
Provide a larger gathering space next to our worship Space
Provide child-comforting space next to our worship space
Provide upper floor restroom facilities
Provide additional strategically located storage space
Provide enhanced church accessibility and ease of Entrance
Repair areas of our worship space (stained glass windows, Side altars, etc.)
How We Are Financing
The estimated cost of the entire 2016 renovation project was roughly $5 million. Through our Preserving Yesterday, Celebrating Tomorrow Capital Campaign, we raised $1.7M in donations and 3 year pledges will continue to help offset the cost of the building expansion project.
Other sources of funding could come from the following areas:
1. Parish Reserves: We are blessed that our parish is on sound financial footing. To that end we have grown parish reserves totaling $2.5 million that have been safely managed and invested. Our parish could choose to use a portion of these reserves for the building project while conservatively maintaining significant reserves for operating expenses.
2. Borrowing: Through the generosity of parishioners and friends, we now have a Parish Endowment Fund totaling $1.3 million. To help fund a building project, we could consider borrowing funds from the Endowment Fund, and then, over time, return the funds to the Endowment Fund. Also, the climate is good to pursue commercial loans from local banks at historically favorable rates, as well as accept low-interest loans from parishioners.
3. Parishioner Participation: We considered ways in which parishioners could participate in the building project, especially if they had access to construction materials and trade skills for substantial savings.
Copyright: Tricia Shay Photography
Our parish has been very blessed to have parishioners, Ken and Richard Zautcke, who created weekly slide shows documenting the renovation progress.
Watch their renovations videos via YouTube.
Look at our bi-weekly renovation e-Newsletters called “On This Rock”
Read about our Construction Delay (November 2016)
St. Peter Capital Campaign Brochure