Capital Campaign 2008

FAQs

Why does Fairfax Church need a Capital Campaign?
Since the congregation moved to this location in 1955, there have been several additions to expand the facilities. The most recent addition was in 1987. While there have been upgrades in air conditioning, the heating system dates back to 1955. It has served us well for 53 years but is well beyond its estimated life of 40 years and must be replaced. A few recent improvements such as windows and floors have been made with the help of generous gifts and memorials. A reliable source of funding is needed for comprehensive capital repairs.

The Air Conditioning seems to work well, why should it be replaced?
The air conditioning system is a fragmentation of several systems dating back to 1955. There are separate cooling units for the Sanctuary and Fellowship Hall and neither is sufficient to effectively cool these large areas. Although a new chiller was installed in 1987 along with room radiators for heating and air conditioning, that system is also aging and is well over twenty years old. The Trustees felt it feasible to replace that system as part of the boiler replacement.

What is the estimated cost to replace the heating and air conditioning system?
The cost is estimated to be $1,100,000.

How will we pay for the heating and air conditioning equipment replacement?
The church entered into a unsecured loan agreement with BB&T in July 2007 for a loan not to exceed $600,000. The interest rate will accrue daily on the outstanding balance at a fixed rate of 7.5%. Interest will be due on a monthly basis beginning in April 2008. The balance on the loan is approximately $100,000. The remaining balance of $500,000 will be used to pay for replacement of the boiler, heating and air conditioning. The current capital campaign’s timing is critical since the church must start repaying the loan in April 2008.

The outside of the church looks like it is in dire need of paint and wood repairs.
You are absolutely correct. A recent bid for painting the exterior including repair of rotten wood totaled $75,000. The building maintenance budget and reserves are the first items adjusted when funds are limited during the annual budget process.

Why is the campaign goal $2,000,000 if the heating and air conditioning cost is estimated to be $1,100,000?
We have added $250,000 for architect drawings, plans and specification for a new Welcome Center proposed by the Long Range Planning Committee and approved by the Church Charge Conference in November. The cost of capital campaign has also been included in the total goal of $2,000,000. In addition, a Capital Needs Fund in the amount of $565,000 has been included to take care of other current building and maintenance needs. The designation of $365,000 is for immediate needs and with the balance of $200,000 in reserve so the building can be properly maintained into the future.