Congregational Vote on the Renovation
The Board has approved the following resolution to be voted on at our congregation vote on Sunday January 19, 2020.
We authorize the board of UUCB to engage W.L. Kline for renovation project, not to exceed 1.4 million dollars, and to obtain a loan, not to exceed $750,000. We further stipulate that of the $750,000 loan no more than $350,000 will be carried as a long term mortgage.
- We are offering a single resolution and will follow our normal process for changes, where amendments may be proposed and then offered for a vote.
- We have spoken in the past about two loans, a bridge loan and a mortgage loan, because it’s less expensive we are opting for a single loan for the entire amount needed, up to the authorized amount.
- The bulk of the loan would be repaid by the end of Capital Campaign payment period, from the collected pledges, as a balloon payment, with the remainder becoming the mortgage.
You’ll find further information that will help you prepare for this vote at our Carrying the Flame Forward Facebook group.