Committee's Current Plan
Conventional Purchase
--
Per Power Church LOI · $3.8M from Cinergy · 20% down ($760K from LOC) · $3.04M ANB loan @ 7% / 25-yr · No construction loan · Reno from cash ($100-500K)
Cash needed at closing--
Bank P+I (25-yr amort)--
UA operating costs--
SE 10th carrying (transition)--
LOC IO (until SE 10th sells)--
Year 1 total monthly--
Steady-state monthly (after SE 10th sells)--
Year 1 surplus / (deficit)--
Steady-state surplus / (deficit)--
% of gross giving to facility--
Bank's appraisal threshold--
Strategic Counter (NOT yet on table)
$2M to Cinergy + $2M Construction
--
Counter Cinergy to $2M · 20% down ($800K from LOC) · Bank funds $2M construction loan · CTP IO during 12-mo build · converts to permanent at month 13 · delivers fully-renovated facility
Cash needed at closing--
Bank IO during build ($3.2M @ 8%)--
UA carrying + SE 10th--
LOC IO--
Construction-phase monthly--
Permanent monthly (post-CTP)--
Construction surplus / (deficit)--
Permanent surplus / (deficit)--
DSCR (income ÷ payment)--
Bank's appraisal threshold--
Cushion at $9.1M ARV--
Scenario C · Fallback (walkable safety net)
Master Lease + Buyout
--
Lease the building during 12-mo build at $3/sqft NNN · Bank funds $2M construction · After construction, refi to $5.8M permanent (pays off construction loan + $3.8M buyout) · Walkable — if appraisal disappoints or income tier softens, walk from the lease, no debt aftermath
Construction phase (months 1-12)
Monthly lease ($3/sqft NNN)--
Bank construction IO ($2M @ 8%)--
SE 10th carrying--
Total monthly--
vs income tier--
After buyout (refi at month 13)
Permanent loan ($2M reno + buyout)--
Permanent monthly P+I--
DSCR (income ÷ payment)--
vs income--
Refi gating (the safety net)
ARV needed--
Cushion at $9.1M ARV--
Refi clears?--
If short → walk from lease$0 deficiency
12-Month Cash Flow Roll-Forward
What every month looks like during Year 1. The cumulative column is the headline — it shows whether we end the year ahead or behind.
Money in (per month)
Existing church net--
Supplementary income (this tier)--
Total in--
Money out (per month)
| Month | In | Out | Net | Cumulative |
|---|---|---|---|---|
| 12-mo total | -- | -- | -- | -- |