A payment of $300,000 was sent to the bank in December 2018. The present mortgage stands at just under $670,000. In late 2019 we plan to make another balloon payment from the capital campaign funds to reduce the loan to approximately $387,000. The hope is to retire the debt completely by the end of 2020.
Because of the elimination of the mortgage payment from the General Fund in 2019 an additional $111,000 will be available for local missions and ministries.
Supporting Local Mission and Ministries
Canton Calvary Mission We were able to help Canton Calvary Mission, along with the Tuscarawas District, and the East Ohio Conference, purchase a used box truck. Our $4,000 gift to Canton Calvary Mission covered just under 1/3 of the cost of this truck, which they got in mid-May 2019. This will allow them to transport over 200,000 lbs of food a year from the Akron Canton Foodbank, as well as pickups throughout the county.
Leaders of the Church are engaged in discussions to discern other areas where these additional funds will be most impactful. Areas may include helping Canton Calvary Mission develop a stronger fiscal system; and enhancing our partnership with Habitat for Humanity.