Immanuel Expansion/Relocation
At the July 20, 2009 Quarterly Voter's meeting it was determined to cancel the land purchase agreement. Since we were unable to raise sufficient funds for the purchase.
Land Purchase
Immanuel is currently looking to purchase approximately 40 arces of land on the east side of Mankato. A purchase agreement was signed in the middle of November. We are currently in a due diligence period, part of which is determining funding. The purchase price is 1.3 million dollars, there are deferred assessments, and other expenses which bring the total cost to an estimated $1,638,000.
Another part of the due diligence was having Paulsen Architects do a conceptual layout of the site.
Immanuel has begun soliciting member donations, and member loans.
Progress
Approximately 23% of the Congregation has replied with Donation/Loan Forms todate.| Goal: | $1,638,000 |
| Escrowed Earnest Money: | $50,000 |
| Expansion/Relocation Fund Balance: | $62,000 |
| Anticipated Gifts: | $139,350 |
| Anticipated Loans: | $88,200 |
| Updated 6/20/2009 |
Additional Information
- February 20, 2009 letter to members from Immanuel Church Council
- February 22, 2009 sermon offering general encouragement, in the consideration of this effort.
Immanuel Home Messenger:
- Due Dilligence (December 2008)
- Land Acquisition—Voter Approved (August 2008)
- The Ministry at Immanuel—Expansion-Relocation (December 2007)
- Expansion and Relocation Committee Request (December 2005)
- Planning for the Future in Immanuel’s Ministry (April 2005)
- Facility Survey Report (April 2004)