- Review of the B2B financials to-date. Includes cash in bank, expenditures to-date, projected project costs, future acceptable mortgage payments, etc.
Steve, Chuck, and Lori presented updated financials to full committee. Reviewed existing cash, projected giving, and total capital stack. Also, reviewed potential construction loan and permanent loan scenarios for what potentially would be St. Peters monthly mortgage payment going forward. Based on the information and update from civil engineer on the challenges of developing the Elm Lane site as well as the age of existing building, the committee concluded that the Elm Lane parking lot project would be “on hold” until a future date.
Motion was made by Don Trapp and 2nd by Jennette Clauson to NOT move forward with that phase of project at this time. Vote was unanimous.
- Review schematic design plans dated 10-14-2020 and “Finalize”!!
Completed review of update schematic design dated 10-14-2020. Committee all agreed on the added gathering circle on the south side. This will be the Final schematic design. We will now engage the architect to move onto the design documents.
- Update from Steve concerning meeting with civil engineer team. (Noted above.)