Update on progress LRBC Church meeting 31st March 2011

The journey continues….. The background…. 98 out of 100 supported the proposed resolution on the 18th November Church Meeting. BU loan up to £620,000 Cory grant £55,000

Tender Process 5 Contractors. All tenders over budget. Focused on working with the lowest tender contractor.

Lowest Tender Project Target cost £ 900,000 Tender submission £1,088,000 Over budget £ 188,000 Includes VAT and contingency

Tender Process part 2 Key area of over spend - mechanical Instructed investigation into savings Construction savings £78,000 M&E design unchanged

Project Costs Project Target cost £ 900,000 Tender submission £1,088,000 Over budget £ 188,000 _____________________________________________ Construction savings £ 78,000 M&E design unchanged Final tender cost £1,010,000

Funding Gifts & Pledges (Feb11) £683,000 Includes Housing Association and Cory pledges BU Corp. Loan £620,000 Current pledges cover 5.5 years repayments at current interest rate General giving is healthy

Proposal Enter a contract with TJ Evers for a total project cost of £1,010,000. Resolution from January’s Church Meeting empowering Trustees to sign contract still stands.

Reminders Gift aid: 28p to 25p from 6th April 2011 so please give now if you are able. Legacy Keep on fundraising!