St. Michael and All Angels has some good new to share regarding the roof project: we have received conditional approval from Northern Development Initiatives Trust for our $30,000 grant application. This grant is specifically for the Hall portion of the project (roofing, siding, trim and stucco repairs).
This grant along with several recent donations for parishioners, brings our fundraising total to about $258,000! We are very excited about this new total.
Also, in January the tender package for the Roof Project went out for bids. The bids were reviewed in February and St. Mikes has selected Datoff Bros. Construction Ltd. as our contractor. We are looking forward to working with this reputable Prince George-based company.
St. Mikes expects that soon we will be able to confirm that financing has been secured. Currently the church is pursuing a loan through RBC that will cover the entire cost of the project (less funds already raised). As well we are applying to the Territory of the People for a low-interest loan to partially cover costs (which would allow us to reduce the bank loan substantially).
With receipt of bids on the project, St. Michaels is able to project the overall cost of the project:
- Architect/Engineering Fees $45,500
- Construction $515,700
- Construction Contingency $75,000
- GST (2.5% with non-profit rebate) $15,100
- Total $650,300
The project cost is significantly higher than the $400,000 that has been the basis of our fundraising campaign for several reasons: the cost of building supplies has increased significantly over the past year, we relied on the rough estimate in the 2018 Building Assessment, there is a $75,000 contingency fund, and finally Architect/engineering fees have also been higher than originally estimated.
The good news is that this will be a fixed price contract, with any extra charges going through an approval process with the architect/engineering consultants and a total cap on extra charges fixed by the contingency amount of $75,000.
With this total cost, we have a new fundraising goal of $600,000.