“Imagine the Possibilities” Capital Campaign announced to financially position MUMC to fully utilized our new facilities and faithfully expand our future ministries.
Sold property on Old Shelbyville Road, refinanced and reduced 30-year mortgage to $2.36 million at 4.5% interest and $13,500 monthly payment.
$2.88 million construction loan converted to 30-year mortgage at 5.625% interest and $18,077 monthly payment.
“Momentum” Capital Campaign received pledges for 95.0% of its $1.0 million goal for Phase II.
Phase II contract signed with Wehr Constructors for $2.9M. Estimated initial costs increased due to market conditions, material price increases and necessary project changes.
Phase I construction contract signed with Wehr Constructors with increased costs for $3.2M.
Project construction plan divided into two phases for project feasibility and control which increased time schedule and construction costs.
Wehr Constructors selected as Construction Manager to develop and manage construction schedules, project bidding and sub-contractor relations.
“Forward in Faith” Capital Campaign received pledges for 99.6% of its $3.0 million goal for church renovation.