Renovate the State Update PDF Print E-mail
Tuesday, 12 June 2012 16:25

 

 

Friends,

I just wanted to send this letter of thanks to everyone for all that you did to help make our kick-off for Renovate the State a success.  The event was very well attended.  It is our prayer that we answered as many questions as possible.

At this point, the 2 bids that we have received range in cost:

1.) $1,175,000.00 (One million one hundred seventy-five thousand and 00/100 dollars).

-This number does not take into account the list of potential donors, in kind, or other cost reduction opportunities

2.) $600,960.10 (Six hundred thousand, nine hundred sixty dollars and ten cents)

-This number does not include the backstage or basement construction.

-This number does not take into account the list of potential donors, in kind, or other cost reduction opportunities.

 

Both companies are willing to work with sub-contractors that are willing to donate time and resources.  However, those sub-contractors must be willing to sign a contract just as though they are working a job for compensation.  This will guarantee completion of the project in a timely fashion.

There are things that we love about both companies.  Both are faith-based and have been great to work with.  It will come down to final numbers once everything has been researched.

According to our list of donor companies and workers, it looks as though we are going to be able to reduce the price considerably if everything goes through that has been verbalized so far.  We would love to be in the building with a budget not to exceed:

Total = $450,000

We are aware that this will be a miracle.  We have been constantly amazed at what God has been doing for us so far.  We know He has a plan for the renovations as well.

We do want to offer different ways of giving:

RENOVATE THE STATE

I. “ Have a Seat” Campaign:  For a donation of $100, you can have a seat named in honor/or memory of someone you love.

II. “Way Makers”: Pavers will be placed in our lobby for a donation of $250 toward renovations.  Our plans are to finish the lobby with pavers.  This will tie in to the Vintage Theatre theme and we will be able to honor people who contribute monies toward the renovations.  These pavers can also be named in honor/or memory of someone you love.

III. “The Pillar Guild Wall”:  A wall will be constructed on the Market Street side of the State Theatre where the “Will Call” entrance will be located.  We will be moving our current sandstone LampLight Theatre sign from its current location to the State Theatre.  The large stone will be mounted to the wall and bricks will be placed around it to honor our donors.  There are three kinds of bricks that will represent three ways to give:

1. “TORCHBEARERS”:  (4”x 8” dark brick) Those who

contribute $2,000+ toward the purchase of the State Theatre

2.  “KEYSTONES”:  (4” x 8” light brick) Those who contribute $2,000+ toward the renovations of the State Theatre

3. “CAPSTONES”:  (12” x 12” Stone) Those who contribute $5,000+ in monies or materials toward the renovations of the State Theatre

We need these contributions as soon as possible in order to begin the renovation process.

Please be in prayer.  We should be closing with Citizens Bank on the State Theatre in the next couple of weeks.  We are also in a contract with our current property at 441 Horton Hwy in Fall Branch.

When we close on our current property, we will be able to pay-off most of our current debt. The future owners will allow us to use the property until December 31 of this year.

We are pressed for time in order to make these transitions.  It will be the hand of God and the generosity and obedience of His people for this happen.

OUR CURRENT STATUS ON FUND-RAISING

  • $280,000 in cash and pledges has been raised for the purchase price of the State thus far.  $100,000 of this was loaned for the down payment with no interest for 2 years.  The other $180,000 has been made in pledges to be paid over the next 2 years. Some of these are already “TORCHBEARERS”. Many have made $2000 in pledges to be paid within a 2 year period.
  • “HAVE A SEAT” Campaign:  Thus far 216 chairs have been promised.  150 pledged and 76 paid for already.  This brings the total to $7,600 thus far.
  • “WAY MAKERS”: Total money for pavers is 4 pavers paid for $1,000 and 2 more pledged.
  • “KEYSTONES” & “CAPSTONES”: No one officially. However several businesses and contractors have made pledges to give toward the Renovations.

TOTAL MONEY for our Drop-By Fund-raiser Saturday, June 9 was $4,582 which was pavers and chairs and $200 in pledges.

We have a total balance of $17,842.11 in the Theatre Relocation/Renovation Account thus far.

Again, be in prayer for us as we seek to do God’s will.  Thanks again for your support.  We ask that you help us in our efforts to bring quality Christian, family entertainment to downtown Kingsport.  We cannot do this without your help.

If you know of someone who might want to make a contribution or if you would like to talk to someone personally, please contact our offices.

If you are interested in helping with our fund-raising events, please contact us as well.  We look forward to serving with you in this project.

 

In His Steps,

Billy Wayne

 

 

 

 

 
 

 

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