Frequently Asked Questions
Will we go into further debt to build this building?
Actually a major goal of the campaign has been to reduce all or a significant portion of our $9.7 million debt, and to incur no new long-term debt. There will be a short-term construction loan to bridge the time when construction begins and pledges are fulfilled.
Can I designate what portion of the project my pledge goes toward?
The first dollars will go toward the building and renovation project. Once those costs are met, all additional monies received after that will go toward debt reduction. The budget for the project is $5.5 million.
Why aren't we renovating the Quads?
The church leadership has prioritized the need to build dedicated buildings for our Students and Children. However, by building the new facility, it creates the opportunity to renovate the Fellowship Hall and Studio 45 for Adult Education use.
If reducing our debt eliminates all of a portion of our $800,000 mortgage payment, what will we use that money for?
This will vary from year to year, but for now, our priorities are:
- To support our mission's initiatives, enabling us to multiply our current efforts exponentially, serving the disenfranchised in Austin, as well as across borders.
- To enhance our programming, continuing to raise the bar of excellence in all of our services.
- To proactively maintain and improve our facilities and grounds.
- To provide increased resources (staffing, equipment, supplies) to fund the growth of ministries with significant growth potential.
Why is this a good time to build, especially given the current state of the economy?
Austin area general contractors have told us that building now can save us anywhere from 15 - 25% versus building just a few years from now. Dozens of pastors from churches acros America who have started campaigns in the past 18 months have told us that it is very reasonable for us to raise at least twice our annual budget over a three-year period. To date we've received pledges of over $7.5 million with over $1.5 million in cash received to date.
Who will be building the new building & renovations?
The church is entering into an agreement with Structura, Inc., a local Austin general contractor who will be responsible for all subcontractors, schedule and managing to the budget. Will Shepherd, one of Riverbend's founding members of the church is our Project Manager, working closely with Pastor Norm Schoenfeld on staff to oversee the project. Mac Holder's (another long time member of Riverbend} firm L.M. Holder, is the architect for the project. Another Austin firm, RVI is the landscape architect. Riverbend's Coordinating Committee is responsible for the project at a high level to ensure it is managed within the budget constraints they've set.
There will be some volunteer opportunities to help with the project. In October 2010 30 volunteers helped disassemble an existing deck that is being relocated and rebuilt. Look for announcements in the bulletin for opportunities to volunteer from time to time.