Next 5 Update
Where we Started
Whenever a family sets out to make a large purchase such as a new home they often “count the costs” and make some sacrifices in order to afford their new space. The same is true for a church family. When we set out to find and fund a permanent home in October of 2021, many in our church body “counted the costs” with us. They began to make some sacrifices to give over and above their general giving to support the church’s budget. This money was allocated to The Next 5 Initiative. In August of 2022 we took the first major step toward a permanent home by purchasing 6 acres on Highway 66 between Fate & Royse City. We did some major clearing on the property in December of 2022. Now, as we move into 2023 we are in the process of meeting with the city of Fate and seeking out affordable building solutions for an initial build on the property.
“When we set out to find and fund a permanent home in October of 2021, many in our church body “counted the costs” with us. They began to make some sacrifices to give over and above their general giving to support the church’s budget. This money was allocated to The Next 5 Initiative.”
Where We Stand
As we approach the midpoint of the Next 5 I want to update you on where we stand in giving toward the initiative.
At the outset of the campaign we had a total of $353,230 pledged toward the Next 5. As of mid-January 2023 we have received $162,517 of the pledged amount toward the land. So, 15 months into the three year initiative we have received 46% of the total pledged amount. We are so grateful for how the Lord has provided thus far!
In addition, as of mid-January we have received $38,788 of non-pledged gifts. These are gifts from people outside of our church or people who have arrived at Redeemer after the Next 5 launched. God has certainly been providing in some unexpected ways! In total, as of mid-January we have received $213,788! I hope you will join us in giving thanks to God for His gracious provision.
However, we have $66,800 of the pledged amount from which we haven’t received any giving. These would be people who committed to give at the beginning of the campaign and have either left Redeemer or have yet to give toward their Next 5 commitment. Now, being 15 months into the initiative, our Next 5 team has come to believe that we cannot count on those pledged dollars.
Out of the $213,788 received:
$128,913 has been spent toward the land in down payment, principal & interest payments, and clearing costs.
$8,143 has been spent toward supporting our mission partners
$11,281 has been spent toward caring for our existing staff members
Next 5 Prayers
There are a few things that we are currently praying for as we seek to be good stewards of the resources and opportunity the Lord has given us.
The capital to pay off the land by the end of 2024: At an interest rate of 5.25% over a 30 year amortization schedule with our current giving trajectory we will be over $250,000 short of paying off the land at the end of the three year initiative. We are praying for more non-pledged giving in 2023 & 2024 and new pledges as we move toward the midpoint of the initiative.
The ability to start construction in 2025: The Next 5 Initiative concludes in October of 2024. At this time we will launch another giving initiative to secure the funding we need to finish paying off the balance on the land and, Lord willing, begin construction.
Next Steps
The 18 month Recommit: This spring will be the midpoint of our giving initiative. As we approach the halfway point we will spend some time as a church family recommitting ourselves to the effort. We will do this through:
A prayer gathering at the property
Life Group Town Hall Meetings
Inviting new members to join us by pledging
Inviting those who have fulfilled their commitments to consider making a new commitment for the last half of the initiative
Exploring Building Options: Our Next 5 Team has explored several options for construction. Traditional Design-Build firms are quoting costs of $425-$450 a square foot for pre-engineered steel buildings or brick and mortar construction. At those prices, a 10,000 square foot building would cost $4.5 million dollars. This has led us to look at some non-traditional building solutions. Our Next 5 team hopes to have some more information to share with you in the coming months.
Design Review Committee Meeting with City of Fate: Our next step with the City of Fate is to schedule a Design Review Committee Meeting. At this meeting we will present a basic plan for location of the building and parking on the property. We will also be able to inquire about utilities, an address for the property, visit with a civil engineer about drainage requirements, and ask any other questions we may have. We plan to schedule that meeting for the 2nd quarter of 2023.
If you have any questions about The Next 5 Initiative, please feel free to reach out to any member of The Next 5 Team:
Shannon Collins, Craig Cooper, Tammy Cooper, Keith West, Stanley John, Lyndsay John, Tami Almason, Todd Almason, Shola Adebajo, Sam Allen
- written by Shannon Collins
Shannon is one of the pastors at Redeemer and has led the church through preaching and vision since its launch in late 2015. He and his wife Karen live in Fate with their two kids. You can connect with Shannon here.