The members of the Board of Trustees invite and encourage all UUCBV members and friends to attend a special congregational meeting on
Sunday, November 15, 2020
12:00 to 1:30 PM
Zoom Link (same as link for the Sunday worship service): https://us02web.zoom.us/j/780211530?pwd=L0E5MmZaY1FFTW1jTFExQ3NIYmJzdz09
Meeting ID: 780 211 530 Passcode: 1956
There is one item on the agenda. We will be asking Voting Members to vote on the following Motion:
Approve the construction of the congregation’s new building at 1719 E. 29th Street, Bryan, Texas, at a cost not to exceed $2,000,000 and upon assurance that the congregation’s attorney has reviewed the contract and has issued an opinion that our risk is no greater than if we were to purchase a performance and payment bond.
Eligibility to Vote:
A Voting Member is one who has signed the UUCBV membership book and who has made a recorded monetary or in-kind contribution to UUCBCV within the immediate past 365-day period. Contact the Board president at firstname.lastname@example.org to verify eligibility status.
UUCBV bylaws allow for proxy voting. Voting members who cannot attend the meeting can complete the proxy ballot at this link https://tinyurl.com/UUCBVBallot by Friday, November 13. To obtain a paper copy of the ballot, contact the Board president at email@example.com.
Please keep in mind that a proxy ballot becomes invalid if the wording of the motion is changed at the congregational meeting. A proxy ballot may be withdrawn by the Voting Member who attends the meeting and expresses a desire to withdraw it.
Cost of Construction:
Note that the motion does not have an exact dollar amount for construction; it includes a maximum cost of $2,000,000. The Board hopes that we will have a more exact number to share at the meeting on November 15.
If we do have a solid number and it is over $2,000,000, the motion in the first paragraph will need to be changed to reflect the higher amount. In this case, all proxy votes become invalid.
In the event we don’t have a solid number, we are asking voting members to authorize construction to begin (within the limits of the motion) as soon as we have a final cost of construction and the contract is signed – without a need for another congregational meeting. By asking for a vote now, we will be able to begin construction 4-6 weeks earlier than we could if we waited for a solid number.
Attorney Assurance regarding Performance and Payment:
Here is an explanation for the second part of the motion:
“and upon assurance that the congregation’s attorney has reviewed the contract and has issued an opinion that our financial risk is no greater than if we were to purchase a performance and payment bond.”
Generally, a Performance Bond secures the contractor's promise to perform the contract in accordance with its terms and conditions, at the agreed upon price, and within the time allowed. The Payment Bond protects certain laborers, material suppliers, and subcontractors against nonpayment.
The cost of a performance and payment bond (PPB) is generally 1% of the total price of construction. For example, if our construction price is $2,000,000, the estimated cost of a PPB would be $20,000.
It may be possible to include the same assurances of a PPB into the contract for construction without requiring that the contractor obtain a bond. We will ask our attorney to advise us on the language of the contract regarding performance and payment. If he feels our risk is no greater than if we were to purchase a PPB, we will not require the contractor to obtain one, thus saving us up to $20,000. If the attorney recommends the purchase of a PPB, the cost would be included in the maximum construction cost of $2,000,000.
Financial Position and Fundraising:
Currently, we have approximately $2.17M in our construction fund at Fidelity Investments. If the construction cost is $2M, we will have only $170,000 to purchase items – like light fixtures and furniture – to “open our doors” for worship and the work of the congregation. While this may be sufficient to purchase these “must haves”, the Sacred Space Team and the Board of Trustees believe that this is an insufficient cushion to cover the cost of some of the other items that will be cut from the final design and to cover any unexpected costs to complete construction.
Therefore, we are announcing a fundraising effort with a goal of $300,000 in donations and pledges. We are confident that current members, former members, and friends will help us reach this goal. Rob McGeachin and Nancy Granovsky have volunteered to coordinate this fundraising effort. We will have options on our website to pledge and to donate. Stay tuned for more information.
Gaye Webb, Board President