1st February 2010

Extracts from Keith's Business Plan in support of proposals for Phase 1 development of the new Church complex for All Souls Anglican Church.

Whilst the best estimate by the Quantity Surveyor of the total costs of Phase 1a (which include earthworks, fencing, parking etc) is between R6m to R7m, it is planned to go to tender shortly in order to obtain a more accurate cost. Those tendering will understand that no commitments can be made regarding acceptance until a later date.

Subject to approval from the Diocesan Trustees, we need to negotiate a sale of the existing All Souls Church property at a market related price and have received the funds. In this regard, we have had discussions with Umuzi Kwa Jesu an organization closely associated with our Parish, and which currently operates from the All Souls premises, They are very keen to acquire the property and a purchase price of between R1,8m and R2m has been suggested. This figure will have to be tested against the fair market value.

We do know that we have an amount of R1,6m of our funds presently available for the project. Assuming we realize say R1,8m from the sale of our present church complex, we would then need to raise some R2,6 to R3,6m to be able to proceed.

Taking the above factors into account , we plan to be cautious and proceed as
follows:

Once the tender prices from contractors are received we will be able to determine an actual cost figure which it may be possible to trim further by omitting certain aspects from the contract.
We will negotiate with the favoured contractor to delay acceptance until we have the required funds in our bank account.

The principle we have to adhere to is that a building contract can only be awarded and entered into once the funds in our bank account.

The project will be professionally supervised, our quantity surveyor being Romano Valenti and our architect, a local firm represented by Angela Plekker.
In addition, the Rector, supported by a team of parishioners led by John Cook who is also an architect , Keith Duane , a chartered accountant, and two others will monitor progress of the project.

We believe the move to the magnificent 5,5ha site will result in a continued growth in numbers joining our Parish, particularly amongst younger people with children who will be attracted by the park-like grounds of the complex.