Join us for the HOME Campaign Town Halls
As Redemption OKC establishes a permanent place in Edmond, we will further our mission to our city and world. We are asking God, “Would you lead us to a home that fits our hopes for our church and for our city?” While we sense that it is time to find our home, we do not yet know what exactly it will look like or where it will be. One thing is certain: when God directs us to a home, we want to be ready.
Last Town Hall: April 15th, 2021
We discuss our plans, our vision and direction, options we are exploring, as well as a dedicated time where you can ask questions and get them answered by Jeff and our elders.
Redemption draws people from all parts of Edmond as well as nearby communities such as Deer Creek, Oklahoma City, Guthrie, Arcadia, Jones. We would like to stay some place that is on a main road, preferably with access to a major highway, allowing us to reach in all directions. Therefore, we think it is important for our first physical building to reflect our commitment to Edmond, North Oklahoma City, and the surrounding communities.
We want to leave the precise location open to God’s leading. We have enjoyed our gatherings in North Edmond as well as our office space in downtown Edmond. We have always said that we would like to be along a main travel route such as the Covell corridor and I-35. We will search as far West as Hwy 74, as far North as Waterloo, as far East as Midwest Blvd., and as far South as the Kilpatrick Turnpike. Regardless of what neighborhood we’re in, we believe we can continue to draw from the whole area if the building is easily accessible.
There are three possibilities: (1) An existing church building; (2) A commercial or industrial space that can be retrofitted for church; (3) A parcel of land that allows us to design and build.
An ideal building will have space for these functions: 400 seats for worship, inviting entrance, children’s classrooms, space for students, mid-size gatherings for adults, and staff offices. This will likely require at least 20,000 sq./ft. Other considerations include: adequate parking, accessibility from major roadways, visibility, opportunity to serve our neighbors, and aesthetics.
Supporting and growing our current ministries – worship, children, students, men’s and women’s events, leader equipping, special events – would be the first priority. We believe the right building would allow all of these to be more effective, more consistent, and more inviting for our friends. A new space will also allow us to develop new possibilities. Our vision would include a slate of Equipping Classes that would focus on growth and depth including (1) Discipleship Courses in Basics of the Bible, Theology, Spiritual Disciplines, Finances, How to Share Your Faith, and Finding Your Gifts and Ministry, and (2) Life Equipping Courses in Pre-Marital Equipping, Marriage Re-Engage Course, Parenting Courses, and Relational Health. Another top priority is to be great neighbors and respond appropriately to the needs of our city. So part of what “building life” looks like would be determined by the neighborhood.
Either is possible. The main purpose is to obtain a building that we can operate 24-7 for church ministry. Purchasing would gain a property tax exemption, as a building that is owned and operated for religious purposes can be property tax exempt. This could amount to a significant savings per year on a suitable building. So purchasing the building is more likely.
Based on current market conditions, we estimate $2 million to purchase an existing building large enough for our current ministries to flourish and grow. If we buy land and build from scratch, costs may be higher (possibly $3.5-4 million or more), although it is possible to build in multiple phases in order to spread out the costs over time. Purchase of an existing space that required retrofitting would likely be somewhere between the two above figures.
We are working with a team which includes our elders and a couple of others with experience in real estate, law, and finance to direct the search. Once we find a suitable building, having the HOME funds in hand should allow us to take the first steps to lock it down. We will update you regularly along the way through Town Halls and other communication.
The most likely scenario is a combination of equity (cash we put into the deal) and mortgage debt. We want to be conservative in our use of a mortgage, and several factors indicate that this is a prudent step: (1) The amount we already spend every month on rent is close to what a reasonable mortgage would cost; (2) best practices for churches advise that we use < about 25% of our budget to service a mortgage; (3) In a high growth area, we would likely purchase something that could be resold, giving us a marketable asset. We want to preserve as much cash as possible to help over the next 18-24 months. We have been pre-approved for about $1.6 million, although there are a few variables which could move that total up or down some.
You are welcome to contact our elders / elder candidates with suggestions – Chris Clark, David Cole, Cameron Turner, or Jeff Lawrence; or email the elder group.
We’ve been looking at potential buildings and land for three years, and we have seen very few spaces that would work. A consistent theme is that we are not in a cash position to respond even if we found the right space. This summer, we decided it was time to raise the funds needed so that we could take advantage of the right opportunity when it arises.
Down payment to secure a building or land is the most likely scenario. It could also be used as initial payment on a lease. If at all possible, we would prefer to hold back some cash in savings for emergencies, repairs, and as security in case we have a shortfall in general giving.
Several factors helped us arrive at this amount: (1) The amount of cash we would need in order to take first steps to purchase a building; (2) Redemption’s current giving capacity — a capital campaign typically is able to yield 1-2 times a church’s budget; (3) an amount we think is reasonable to ask the church to commit to during this year of hardship with COVID, etc. Thankfully, the church surpassed this goal with cash and commitments of about $525,000!
Stay updated on the HOME Campaign.
The HOME Campaign is fast moving target. We are raising capital incrementally, through short fundraising sprints. While this is exciting, it can be easy to get lost. We don't want that to happen, so please submit your name and email address, and you will be added to our HOME Campaign email list.