+ Why buy a building now?
We have not been actively looking to buy property but have always kept an open mind to the possibility should we ever not be able to renew our current lease and have difficulty finding a new location that fits our budget and needs. This building came to our attention because we have worshiped here before. The session believes that this is a good opportunity because of the neighborhood, facilities and price of the property.
+ Is this price fair?
Yes, the original asking price was $5.5 million and we believe that the property may be closer to $6 million in current market value. Queens Herald Church is interested only in selling to another Gospel-centered church for use as a place of worship and community services which is why they have agreed to a price that is below market.
+ Will there be a mortgage?
We expect that we will need to borrow the balance of the purchase price and are currently researching different loan vehicles including bank mortgages.
+ What about renovation costs?
We expect minimal renovation that is needed for the church's immediate use. There will probably be some costs for purchasing furniture and maybe some painting and cleaning.
+ How does the monthly cost of operations (including salary, utility, water, etc) + payment towards building compare to the current cost of operations today?
Minimum of $10,000 more per month.
+ Can we afford it with the current rate of tithe?
b. No we can’t afford with the current tithing. However, we do have a plan to address operating cost increase with multiple avenues of income and funding.
+ What will you do with the building fund money if it doesn't work out with this particular building?
LFCC has always had a separate building fund. The SEEK Campaign is a 1 year campaign to raise money for the building fund. Should the purchase of the QHC facility fall through, we will use what has been donated and pledged toward future building purchase opportunities.
+ How will we maintain (take care of) this property?
We, as a church will need to consider our role as stewards of this building, this includes hiring a custodian/property manager
+ Would we leave the Temple and COSL if we own this property?
Yes, we would expect to give up these leases when we finalize the purchase and move in.
+ Will King’s Cross or the Korean Congregation also be part of this purchase and have use of this property?
The Korean Congregation would worship at this new location and be able to utilize it during the week as we would be purchasing this building together. King’s Cross will not move into this facility for Sunday worship but we would seek to partner together to serve the community of Flushing and northeast Queens in this building.
+ Do we have enough people (staff and volunteers) and financial resources to provide community services?
Our church is blessed with a good number of congregants who are all gifted in many ways where we believe that by the grace of God, we could accomplish a lot at this location. Of course, this would require a deeper commitment from everyone so we hope that we can all prayerfully consider our roles if we proceed with this purchase.
+ How is parking in this neighborhood and access to transportation?
The location is less than three blocks from Northern Blvd. and less than a mile from Temple Beth Sholom so access to public transportation is the same if not better. The neighborhood is half residential and half commercial, making street parking readily available even though the property itself does not include a parking lot.
+ What will happen if Pastor Ro leaves/retires?
The vision of LFCC, including the vision of owning a building to support our 3M Vision, does not change if Pastor Ro leaves/retires.
+ Is this property large enough for us now and when we grow?
Yes, it can more than accommodate what we have currently. There is also the potential to add services and use the space throughout the week.
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