As we swing back into school, we wanted to update you on what has been happening with our building project. Peeking into the field you will see that things are just as we left them at the end of June. So where are we with our project?
Although there doesn’t appear to be much progress on the field, there have been developments behind the scenes.
As noted at the Spring General Meeting (SGM) we have a building permit ready to go, but we are waiting to pay for it and pick it up. What are we waiting for? Two things: a change in construction costs and a secured bank loan. In the Spring, we tendered out costs for the project, which came back with bids quite a bit higher than we expected. This was due to the increasing costs of materials in the construction industry due to the economic flux that came with Covid. It was recommended that we wait a short period of time; this has indeed proven to be prudent as reports from the construction industry are that costs have come down and will continue to do so.
While waiting, we still had a lot to do. In order to get a portion of our project underway, the board looked into doing some needed civil work in the parking lot. We worked with City Hall to get a partial permit to begin some civil work (water retention; parking lot work); this was approved and we tried to get this part of our project completed this summer. However, due to supply issues, this work could not be started in the summer as planned and will be completed over the Christmas break to minimize the disruption to our community.
The other project that we have been working on and waiting on is financing. As noted at the SGM, the board was looking at various lending opportunities. We investigated and initiated several financing options. We have invested the most time working with RBC, which led to a thorough application process with RBC for financing. This has now entered the final phase for approval and we are anticipating that this process will be completed any day now. This has been a huge endeavour and we seek your continued prayer and support.
We have also continued conversations with donors and foundations and have been developing new materials for prospective donors. Over the coming weeks, a freshened up school website will launch with a new building project page and donation page to direct prospective donors toward. We are actively pursuing donations and are committed to being wise stewards of God’s provision for Maple Ridge Christian School. We are currently celebrating a $130,000 donation that was just secured yesterday.
Once these final funding pieces are in place, our plan is to have Fictorie Construction Management tender out new bids to see if we can proceed with reduced construction costs than the Spring estimate. We hope to send out those bids later this Fall and will inform the society when that process begins anew.
In the meantime, please continue to pray for the final steps of the bank loan and that we find favour with key donors and foundations. Together, we seek the Lord’s blessing over the students, staff, and future of Maple Ridge Christian School.
On behalf of the Board of Directors,
MRCS Board President