- Should we stay at 81 Peachtree Park? This decision was made when we approved the purchase of 1740 in 2008 to move to 1740 as soon as we could. We have outgrown our current worship and education buildings. Our total adult worship numbers each Sunday are in the low to mid-400’s and our classrooms and nurseries are at full capacity (approximately 200 children are under 18 at CCP). We do not consider it wise to add another service on Sunday mornings at this time and to build on 81 Peachtree Park would cost a great deal. Also, we would have to move during construction. Please refer to “Called to Atlanta” for a complete explanation. Copies are available in the church foyer.
- Why can’t we build everything we need at 1740 Peachtree now? We can, but it may cost as much as $14,000,000 – $18,000,000 and would delay our move to 1740 for a number of years. It also may require more debt than the church leadership thinks is wise.
- How does 1760 Peachtree fit into our plan? 1760 offers us space for our offices and Sunday school classes with minimal changes to the existing floor plan. This same office and Sunday school space would have to be built at 1740, so already having it built would relieve us of this cost. It also gives us land that we would want to own in order to protect and control our investment in 1740. Additionally, this will allow us to build a Family Life Center at the back of 1740 that we can worship in until we are prepared to develop the front of the site. We will be able to move within less than 2 years for a total cost of about $7,000,000.
- So what do we get for $7,000,000? The following:
- 1760 renovated for our offices and Sunday school classes. This 15,000 square feet of office space and Sunday school classes will relieve us of this cost at 1740 ($2.8mm).
- A Family Life Center in the back of the 1740 property that we can use as a worship, nursery, children and youth space (about $4.0 mm).
- The existing building at 1740, without any renovations (remaining balance as of 2013 $3.6 mm). The development of this part of the site will be dealt with in a future campaign.
- 81 Peachtree Park can be sold when we move to 1740. We had 81 Peachtree Park appraised in April 2010 for approximately $3,250,000.
- What does it mean to be “under contract” on 1760? Are we already committed to buy it? Is there a penalty if the congregation does not approve the purchase? Once the contract to buy and sell real estate has been signed by the potential buyer and seller, it can no longer be contracted with a different buyer. This has allowed the church time to have the property properly inspected, and it will allow time for a congregational vote. Our contract stipulates that we can back out of the contract (within 90 days) with no penalty if the inspections are not satisfactory and/or the congregation does not approve the purchase. So, we are not committed to buy 1760 and there will be no penalties if we don’t.
- Can we afford 1760 and a Family Life Center at 1740? Yes, and by doing so we are able to move more quickly and spend less money. {We are working with a company that has years of experience with capital campaigns, particularly with PCA churches. They have projected, based upon an analysis of our church and its historical annual income, that we should be able to raise in a three year capital campaign approximately $6,000,000.}
- What about parking at 1740 and 1760? We will have reciprocal parking agreements with multi-level parking decks adjacent to both sites that will allow us to use those decks on Sundays and in the evenings. We do not expect to have to pay for the use of those parking decks.
- Is it wise for CCP to accumulate additional debt? No, not particularly. This is why we are undertaking a capital campaign in the Fall. However, the church has had various levels of debt during the past fifteen years and has managed it wisely. The key is to have a modest debt relative to the ministry assets and to not have so much debt that it encumbers the ministry of the church.
- What will happen to the ministries around our current location, such as Signature Healthcare, and Peachtree Highrise? We are committed to our neighbors now and in the future. By moving, we also expect to expand our ministry opportunities.
- With so much money being put toward building, are other ministries of the church receiving reduced funding? No, we have been very intentional about ensuring that the ministries of the church have enough funds to grow. For instance, the World Missions budget will increase by 9% in the next fiscal year. We are also planning to add a senior staff position in order to further develop our children’s and youth ministries.
If you have additional questions or need further information, please feel free to contact an elder or pastor, or the church office.