The Road We've Traveled
Q: I hear about 1st loans and 2nd loans and
1st phase and 2nd phase and am a little
bit confused. Could you explain the timeline of
how we arrived here and what needs to happen
next.
A: Hey, I understand! It has been a bit of
a whirlwind for all of us in the last few
years trying to keep up with all God has been
doing with us. Below is a bulleted timeline
of our journey the last few years followed by
what needs to happen in the next few months. This should help
clarify. If there are other questions along this line they will be fully
answered during the Vision Tours.
1. November 2002: - $728,000
Purchased 10 acres from Albertson’s at an auction
This was a huge step of faith for RLFC. Had no money saved up
for this.
Launched the ETT (Enlarge the Tent Campaign).
2. July 2004: +$989,000
Sold Lot #7 of this property. (Approximately 3 acres) We
immediately saw God’s faithfulness to our step of faith. We sold a
small portion of our new property
that we could not use anyway for
more than we paid for the whole
piece.
We learned a valuable lesson of
faith!
3. Total Costs: $0
We took the profit from this sale
and paid property taxes, engineering costs, water run off
studies, etc… The balance of these first 2 transactions was
zero dollars. This meant that God had given RLFC 7 acres for
FREE!!!!
4. October 2005: - $800,000
DOT Land Purchase: While working with Pierce County &
Albertson’s to build a church building we were told we didn’t
have enough parking to build the size of building we needed to
build. At that time God brought us the 2.5 acre DOT (former Park
n Ride) property adjacent to our land. We purchased this so we
could move ahead.
5. Summer 2006: A Major Turn! We had been working with Pierce County for over 3 years
in a seemingly dead end process. All of a sudden God revealed His hand and showed us
the reason for the delay. Clover Creek was moving their ministry downtown and wanted
to sell their property. Of the 8 churches interested we had the opportunity to buy our new
building. What a blessing!!! Either untold years of fund raising, dealing with Pierce County & Construction or move into a new building in months. God again showed His faithfulness.
Unanimously, RLFC decided to purchase the building
and move. This was a huge step of faith financially.
6. July 2006 +$580,000.
Bingham Property Sale. To help fund the purchase of
the new building we sold our “Headquarters” on Bingham Ave where
RLFC began. Of the $580,000 net profit we put $200,000 down
on the purchase (below) and the remaining $380,000 went toward
building renovation and a savings account for upcoming expenses.
7. August 2006: -$7,500,000
Purchased current building from Clover Creek. Moved into our “promised land” after 8 years in the “wilderness” of a cramped
elementary school.
(Borrowed $2,300,000 against 160th property - $2,500,000
Paid Down Payment to Clover Creek
NOTE: Our current STEP UP offering goes to pay the $23,000 mortgage payment on this loan and the land
payment on the DOT property.
Balance owed to Clover Creek $5,000,000
This is due August 2008.
