Since our last update, we have had a team of church leaders—Jayson Gilliam, Chris Stallsworth, Daryl Steinbeck—representing our Futures and Finance Teams, join with our staff leadership and architects to interview two construction companies to determine if one of these companies could partner with us to find additional savings. After the interviews, MEDCO Construction Company was the clear favorite. MEDCO representatives have been working with PSC and our staff to find ways to reduce the construction cost of the project. The Value Engineering process is nearly complete and the pre-construction pricing is reaching the desired goal of $18.5 million.
Our architects, Parkhill Smith and Cooper, are busy with the construction drawings and working with our consultants (AVL, Security and Kitchen) to insure we have the full scope of the project. Once we have reached the desired pre-construction cost bottom line of $18.5 million, drawings will be complete then presented to the church for discussion and final approval. In addition to the building plans, the church will also be asked to approve the construction company and to enter into a bank loan with Bank OZK (formerly, Bank of the Ozarks). The presentation to the church will be sometime in the early fall; we will notify the church several weeks prior to the formal presentation.
Rooted to Grow Giving
Our receipts continue to increase, as of June 27, we have received $2.496 million. We have mentioned in an earlier update that Bank OZK is requiring us to have $2.8 million given prior to finalizing the construction loan—we need only $303,000 by October 1 to meet this requirement!
Thank you church family for your continued faithfulness in giving to Rooted to Grow, if you have any questions, please contact us.
Frisco First Baptist Church