5-9-14 Friday Update: Statements, Shops, a Sign, and some Puddles

Hello all, still watching things slowly falling into place. As of the conference call yesterday Poettker still needed shop drawings for some early work. I'm still working on Diocesan approval. And now we're getting into some weather. So I guess those three factors can race to see what ends up holding us up.

Diocesan approval is a critical step, and I'm happy about the quality of communication so far. It was frustrating that it took so long to get the documents we needed to pass on to them... but once we did, they've been responding within hours most of the time. This week I've been working hard with Jim Mroczkowski, the diocese's CFO, to get adequate financial statements and documentation on file. Yet another educational experience!

I also finally have a quarterly cash flow projection from Poettker. In combination with the documentation I've worked up for the Diocese, I think I'm in good shape to sit down with a loan executive. I'd like to make that happen early next week. We'll need to borrow short-term to bridge between the one-year construction schedule and the four years left of the pledge campaign. We'll need some slightly longer-term debt to make up the difference. If our fundraising continues to go as well as I think it will, the church will be paid for quite quickly.

Of course, if the parish still has the appetite and resources, there will always be additions possible, but after such a huge outpouring for this project, I won't be pushing anything too hard. It's okay to leave something for the next generation!

I'm meeting a second stained glass company in St. Francisville on Tuesday. With two proposals in hand we'll look to get that glass removed quickly so the parish there can move ahead with there own plans.

Swing by and see the construction sign!