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Debt Reduction

+ See the Newsletter for current information on the debt.

+ Please consider making a contribution toward debt payment in order to reduce the debt

   on an accelerated basis. Contact Chuck Hobbs for more information

The Capital Campaign (Responding Faithfully Together)

In 1999, we completed a long range plan that indicated a need to expand and update our facilities to house our growing and diverse ministries. We engaged an architect and prepared a "50 year master site plan" that addressed the facility needs of all of the ministries of the Church, with a strategic focus on the future. This long range planning led to the launch of the Responding Faithfully Together capital campaign in 2004. The Responding Faithfully Together capital campaign was launched in April 2004 with a final goal of raising $8.5 million for the following elements:

+ Construction of a new worship center Building C: The worship center was completed in April 2007. The worship center seats 1,200 in the auditorium and includes classrooms, dressing rooms, a large stage, and state-of-the-art lighting and audio visual equipment. In addition to our own worship services and ministry events, third parties such as the Piedmont Opera and Children's Theatre have used the facility for performances.

+ Renovation of Building B (two story former bank building in the middle of the campus): The renovation into youth ministry space was completed in September 2007, and includes large meeting spaces with updated audio visual equipment, small group meeting rooms, game rooms, and a serving area. The Church receptionist and most of the staff offices were also relocated to this building.

+Renovation of the traditional sanctuary in Building A: The renovation of the sanctuary (constructed in 1972) was completed in March 2008. The renovation included construction of a new chancel in the front of the sanctuary, relocation of the choir and organ console from the balcony to the chancel, cleaning and revoicing the Schlicker organ pipes, and lowering and facing forward the pews on the sides of the first floor.

Financial Status of RFT

Most pledge commitments were generally over a three year period from May 2004 – May 2007 (some people made additional commitments over a longer pledge period). As we have known from the start of construction, our construction costs were more than pledges received.  At the same time, the church incurred a large expense to repair the roof of the sanctuary.  As a result, we borrowed on a bank line of credit to complete all projects.  The line of credit was converted to a term loan in late 2008.

By early 2010, most RFT pledges have been received. The outstanding bank debt is being paid down through monthly payments out of the operating budget, special gifts, and operating surpluses.