Tuesday, August 25, 2009
Monday, August 24, 2009
Meeting with Property Owner
The meeting with the property owner just ended and it was a very productive and positive meeting. The owner at first look through was agreeable to our initial terms on the 1st parcel. More work is still needed to form the entire plan on all three acres, but the initial look through was favorable.
The owner was also willing to extend our Letter of Intent for 30 more days moving the date of expiration to October 9th. We have until that date to come to an agreement and we feel confident that we are getting closer to a deal. The property will remain off the market until the LOI expires.
The leadership has several meetings with local banks arranged for next week.
The commercial real estate process is a time consuming one. Continue to be patient with us as we work through the finer points of the agreement and continue to pray for the team and the church.
The owner was also willing to extend our Letter of Intent for 30 more days moving the date of expiration to October 9th. We have until that date to come to an agreement and we feel confident that we are getting closer to a deal. The property will remain off the market until the LOI expires.
The leadership has several meetings with local banks arranged for next week.
The commercial real estate process is a time consuming one. Continue to be patient with us as we work through the finer points of the agreement and continue to pray for the team and the church.
Sunday, August 23, 2009
Property/ Leadership Meeting
We just concluded a very productive meeting. We are very positive about some of the new options regarding the securing of financing through other channels that will save Discovery money through interest rates in the long term.
A big thank you to our leadership and their dedication and diligence to coming up with a creative and sensible purchase plan. We have a lot of work ahead of us, but we are making progress.
A big thank you to our leadership and their dedication and diligence to coming up with a creative and sensible purchase plan. We have a lot of work ahead of us, but we are making progress.
Tuesday, August 18, 2009
CDF Meeting
Just wrapped up an afternoon and evening with Church Development Fund. After meeting with CDF representatives and discovering some "changes in the rules" regarding our loan process... the leadership of Discovery will be investigating alternate channels to secure lending.
Next week The leadership of Discovery will meet to talk through some intriguing options. We will also meet with the seller of the property to negotiate an extension on our Letter of Intent as well as a new Letter of Understanding.
We will keep you updated as we continue to try and come to an agreement with the seller that will be honoring to God and prudent with what the congregation has entrusted us.
Next week The leadership of Discovery will meet to talk through some intriguing options. We will also meet with the seller of the property to negotiate an extension on our Letter of Intent as well as a new Letter of Understanding.
We will keep you updated as we continue to try and come to an agreement with the seller that will be honoring to God and prudent with what the congregation has entrusted us.
Friday, August 14, 2009
Leadership Team Breakfast
The leadership of Discovery is meeting this morning to discuss alternative ideas regarding the structure of our agreement with the seller in light of new developments with our potential lender. Please be in prayer for wisdom.
Wednesday, August 12, 2009
Monday, August 10, 2009
Property Team Meeting
The team met this evening to discuss some potential issues with our lender. The lender has undergone some changes in recent months and has made some new requirements we do not believe would be in the best interest of the church. Be praying for this bump in the road.
Monday, August 3, 2009
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