On 8 "free and clear" acres at State Road 43 and State Road 225, a few miles north of West Lafayette, we plan to build this beautiful new building - in 2012, we hope. - In late January of 2012, the Parish instructed the Building Committee to proceed with complete cost estimates, loan proposals and a detailed prospective budget. That has all been completed.
- A thorough analysis of our finances is complete. Bids are in on the building. We know what it would cost to build now, and we are, as of May 1, 2012, about $133,000 short of what we need.
- We have $297,000 in the Building Fund.
- We have $30,000 in unfulfilled pledges to the Building Fund.
- We should net $100,000 from the current building, based on a professional competitive market analysis. We can borrow against that until it sells.
- Banks would lend us $310,000 of permanent mortgage.
- The design would cost $820,000 to $870,000 to build (and we must plan on $870,000 while hoping for few contingencies against the $50,000 contingency allowance built into that figure).
Remember that some of the extra cost came when sitework plans were completed by the Engineer. Tecton Construction management had allowed a reasonable $150,000 for grading, utilities, paving and septic, but the actual necessary design will cost more.
Work to close that dollar gap is continuing – mostly trying to raise the extra funds rather than to cut "muscle" from the design.
