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Q. What will members of the congregation actually be voting on at the May 4 meeting? <br /> A. The vote will be to approve the sale of approximately 4.5 acres to Ponderosa Homes for <br /> $6,080,000. At a later date, a second vote will be held to approve the sale of the remaining land and <br /> buildings to a third party school operator. That vote will take place once a sales agreement is ready. <br /> Q. What will happen at the Open Forums? <br /> A. You have been provided with all the information we have. For those wishing additional clarification <br /> or to share suggestions, two open forums (pick whichever one works for your schedule) will be held at <br /> 6 p.m. on April 24 and noon on April 27. No presentations are planned —this is an opportunity to <br /> interact over the information you have received. In addition to these gatherings, elders welcome calls <br /> or emails about the proposal for our future home. <br /> Q. How many options did the elders and the workgroups pursue? <br /> A. Eight potential options were identified and analyzed. Five were not feasible. Two were feasible, but <br /> were substantially less viable from a financial standpoint. They were: selling the church parcel to <br /> Ponderosa and retaining the preschool parcel and leasing it to create an ongoing revenue stream and, <br /> selling the entire parcel to one buyer (if to a developer, it would be a higher value—if to another <br /> church, the value would be much lower). <br /> Q. Once the sale of the land Is complete, and we honor all of our financial obligations, what <br /> financial resources are projected to be left over? <br /> A. Based upon current information, after paying off the mortgage loan, the short-term line of credit, <br /> internal cash flow borrowing, cost of land sales, and continuing our mortgage payments until the sale is <br /> complete, it is currently estimated that$2,965,000 to $3,400,000 will remain. <br /> Q. Is the dismissal process to a new Presbyterian denomination part of the May 4 vote? <br /> A. No. While both the sale of the property and the dismissal process are part of our future planning, <br /> they are independent actions of the congregation. The dismissal procedure follows a careful process <br /> that first involves the elders and the Presbytery of San Francisco and then expands to a time of <br /> information sharing and discussion with the congregation, all of which then leads to a vote of the <br /> .congregation. <br /> Q. When will we hear more about the dismissal process?There has been very little <br /> information shared so far. <br /> A. We understand and agree with your desire for more information. The Presbytery of San Francisco <br /> policy requires us to take a series of steps before we engage the congregation to share information <br /> and engage in dialogue. In other words, we are limited by the policy in what can be discussed before <br /> we have full engagement with the Presbytery. The policy can be found at this link: <br /> http://www.centerpoi ntech urch.org/uploads/Reconcil iationand Dism issai PolicyRevJ une2013.pdf <br /> Page 2 <br /> www.centerpointechurch.org <br />