Approximately one year ago we got word from the owner of our building that he was working on a deal with Lowes that may or may not go through. He wanted to tell us what he was up to but could not tell us whether it would be in a few months or a year and there was also the possibility that it would all fall through. Of course that means it would be difficult to buy anything until we knew for sure so we would not be paying on two properties.
So when our church council met we decided to check into the best time to do a capital campaign. We called multiple churches who had done capital campaigns and talked to them . We met with our Foursquare District Supervisor and spoke with other experts in the field of fund raising. And unanimously everyone told us to wait until we either had a site to cast vision for or wait until we had eminent urgency. Preferably both. A capital campaign is a big deal for a church, and it takes an enomousamount of energy. Timing is everything and if you do it too soon without a site and without enough urgency it can fail then you have to wait 2 or 3 years before you can do another. We wanted to maximize success of any major capital campaign we would do. One step we did for the church was to announce we would need a significant down payment and that people could donate. Not a full blown capital campaign but the vehicle setup to donate if a person had that in their heart to do. Several people have donated during the past year?
Therefore, finding a property or a building became the focus of our efforts as we interviewed three of the best commercial realtors in Spokane. We prayed about it and selected one. We visited every single place that seemed viable. The biggest challenge was that most properties on the northside are not for sale but for lease at a high price. The land we did get to see was either out of our price range, or way outside Spokane city limits.
So we prayed and worked very hard for 9 months looking into every available property to no avail. Then we received our eviction notice and with a feeling of great urgency began the capital campaign. Through a series of closed and opened doors, it became clear that the right course of action was to put an offer on the Division Street property and we did. At the end of March, the offering for the capital compaign was taken and we received $1.4 million in cash and pledges. We went back to the drawing board and made changes to the plans in keeping with the money received in the offering. In May, the loan closed on the new property and the construction phase began!
