Our PLACE Update
May was an exciting month for Our PLACE as we continued on a steady pace toward getting closer to opening our doors. During the month our building and construction team was able to negotiate a more favorable construction cost through a value engineering process. As a result of this process and negotiation a more favorable cost of construction was derived and we were able to sign a contract with Wilson Construction out of Athens Tennessee. In so doing we were simultaneously able to negotiate a favorable construction loan with First National Bank in Cookeville Tennessee. A letter of intent was signed by both parties and the bank has begun to appraise both building and land values that will result in our obtaining funding in the next few weeks. We are currently in the permitting process which will hopefully allow us to break ground this month. A groundbreaking ceremony has been planned for June 15th.
In February we applied for a grant from the Pat Summitt Foundation. Last week we were excited to learn that we were awarded a much-needed grant from the Summitt Foundation that will be utilized in purchasing needed equipment and furniture for Our PLACE. We are very grateful for their support!
The building campaign continues at a steady pace and we would like to thank the Good Neighbor Shop, First Baptist Church of Tellico Village, Shepherd of the Lake, Central Methodist Church, MINI of Knoxville, and the many individual donors who continue to support our efforts to raise both building and first year of operations and payroll funding. I would also like to thank those board members and volunteers who helped us run the various fundraising events over the last month; especially those who helped our Virtual Auction exceed all expectations. Of the anticipated $1.3m needed we are within $200k of the anticipated funding required which includes a construction loan of up to $400k.
We are definitely not out of the woods yet on the funding required to operate Our PLACE but there is definitely light shining between the trees. We need your continued assistance to establish this needed facility for those living in Loudon, Monroe, and surrounding communities. I hope you will consider a future donation or reaching out to those you know in the community that can assist with needed funding and/or those that have the skills required to operate Our PLACE at a level we all can be proud of. Thank you again for your continued support. Best Wishes!
Have you read our magazine?
Listen to today's podcast from UMC that features Jim Dezzutti and Tom Schemberger. Jim is the volunteer chairman of Our Place, a new Adult Day Center that will open in Feb 2021 to serve the needs of adults and families with Dementia and Alzheimer's.
Click the "In The Know" podcast to view