Debt Retirement
Since the last capital campaign was completed over a decade ago, the replacement of two boilers and the replacement of the third floor heating and air conditioning system had to be undertaken without a fund drive. The church was fortunate to be able to borrow the money to complete these projects on an emergency basis.
If the resulting annual debt service of $65,000 per year were retired, the addition to the current budget could be a great asset for ministry and programming.
Cost to completely retire the debt: $430,000.
See below for a picture of a boiler purchased on credit that led to this debt.
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