On Sunday, November 6th, I made a historic announcement to the South Lansing Christian Church family. I announced a proposed ministry partnership between SLCC and The Solomon Foundation, a Church Extension Fund that assists Christian Churches and Churches of Christ with building, remodeling and refinancing existing church mortgages.
This partnership, if approved be the SLCC membership, will save our church $8500 per month on our monthly building costs. This savings will come as the result of gifting our building to The Solomon Foundation, and then leasing it back from them. (The Solomon Foundation will pay off our existing mortgage with Citizen's Bank.)
This out-of-the-box proposal also benefits The Solomon Foundation. With the gift of our equity they will be able to make loans to churches all across the United States that are building buildings or refinancing existing mortgages.
This proposal represents a major shift in how we have operated. Consequently, I am committed to communicating as much as possible about how this would all work. To that end, I wanted to share with you some online links where you can go for more information.
If you would like information about The Solomon Foundation CLICK HERE
If you would like to read a FAQ sheet about the proposed partnership, CLICK HERE
If you would like to listen to an audio recording of yesterday's announcement, CLICK HERE
As we move forward, here are some important dates:
November 13 - Doug Crozier, the CEO of The Solomon Foundation will share the stage with me in a town hall style gathering to answer questions about this proposed partnership.
November 20 - Thanksgiving Dinner. Our elders and staff will be available that Sunday to answer any questions you might have.
November 27 - Russell Johnson will be here representing the National Missionary Convention. Russell also works with The Solomon Foundation and can answer questions about the proposed missionary partnership.
December 4 - Congregational meeting to vote on the proposed ministry partnership with The Solomon Foundation. A 2/3 majority of the members present at that meeting is required for the proposal to be approved.
There is much work to be done between now and December 4th. We need to negotiate the lease. Citizen's Bank and The Solomon Foundation need to agree on a pay-off price to satisfy our church's mortgage. We need to have a favorable appraisal on our property and building.
You also need to know that the church will need to approve this proposal. This partnership will not take place without the congregation's approval.
Please be praying about these final steps. And please be praying, also, that God will reveal his will through this process.
God has been good and shown his faithfulness through this entire process. Even if He were to close this door, we know that He has a plan for South. So, either way, we praise God for who He is and what He is doing among us!