BUILDING PLAN UPDATE – MAY 2024
The Finance and Building Committees are pleased to share an important major update on the building expansion and renovation project.
We received approval for both the construction plan and a loan from the Chancery Office and the tendering process was completed in the early spring. We have recently selected a vendor and we are now moving forward with site preparation already underway and excavation expected to start in early June. Construction is anticipated to last between 18-24 months with an occupation date of June 2026.
What This Means to You
There are minimal disruptions expected during construction. The Sunday Mass schedule will remain unchanged and the hall will continue to be available for use.
Anticipated changes are as follows:
• The Sacristy will move to the basement in the Orange Room (late May).
• Access to the church parking lot via the Pringle Creek Plaza will be closed as this will become the staging area for the construction crew. Please use the entrances off Ribblesdale and Manning during the construction period (early June).
• The Parish Office will relocate to the Pringle Creek Plaza next door and directions will be posted on the church doors once the move has been made. The church phone number will remain the same (early June).
• The Knights of Columbus room is being renovated as part of the reconfigured basement and will no longer be available for meetings (early June).
• All morning weekday Masses will be rescheduled to the evening at 7 PM (early June).
• The elevator will be in the active construction zone and therefore may not be consistently available during construction. We will do our best to coordinate with construction staff to maintain and communicate an up-to-date schedule. During construction, please see an usher or parking lot attendant for further assistance.
Campaign Update and Project Cash Flow
The tender cost was significantly more than the original construction component of the project estimate that was published in the 2022 Capital Campaign brochure which was developed pre-COVID. The increase was expected based on current market conditions, economy and supply side issues. As a result, our total building project budget is now estimated to be $7,929,387.
A cash flow projection was undertaken to fully understand the total project costs accounting for the increase in the construction budget so that we could determine our funding requirements from the Chancery Office.
The cash flow projection accounted for the money raised from donations to the “Living Our Faith, Building Our Future” capital campaign of $2,645,327 ($744,422 collected to date with an additional $1,900,905 pledged over the next four years). Additionally, Holy Family currently has $2,203,349 on deposit at the Chancery Office for this project as well as $159,631 in funds on deposit at the Chancery Office from the Family of Faith campaign. Fundraising for the building plan is ongoing not only at the parish level, but also across the local business community and within our family of schools community.
The cash flow projection, takes into account current and anticipated money from Holy Family’s fundraising efforts as well as a comprehensive breakdown of estimated costs/expenses for the project, showed a need for financial support from the Chancery Office in the amount of $3,227,000 in the near term and a loan of $1,320,000 in the long term.
Thank you for your ongoing support and understanding during the construction period.
