It’s been an eventful few weeks for the Columbus KTC Rebuilding Project. Our contractor, Hanlin-Rainaldi, has made good progress in getting our building permits; we should have all the permits in hand by the end of June. We are so excited to be so close to fulfilling Khenpo Karthar Rinpoche’s wish for us to rebuild the KTC.
But we have hit a snag in our quest to start rebuilding this summer – and wanted to let you know right away so you can help us, through prayer and brainstorming possible solutions.
First things first: The Budget is set.
We feel confident in the budget outlined last month by our construction management team of Gavin Jones and Alan McLaughlin. As our “owner representatives,” Gavin and Alan have given us a solid idea of our costs.
Total cost to build: $2,933,000
Current building fund + additional funds expected: -$2,308,000
Building expenses paid to date: $100,000
Gap (subtotal): $525,000
Commercial Loan: -200,000
FUNDING GAP: $325,000
This past week we met with officers of three banks – Heartland Bank, KEMBA Credit Union, and State Bank to see if one of the banks would give us a commercial loan.
All the banks agreed that $200,000 would be the most KTC could comfortably borrow so we don’t burden our sangha in the future.
None of the banks want to loan us the $200,000 unless we *first* raise the final $325,000 we need to fill our funding gap. And the banks say we cannot start construction until the bank loan is closed.
This is a serious setback for us.
We had hoped we would have a comfortable eight-month period to raise money while construction proceeded.
But now the banks are telling us we must raise $325,000 if we want to start our rebuilding project this year.
That is not an acceptable option. We are concerned that if we don’t raise the money within six weeks, the cost of the building will go up. And then, of course, we will need to do more fundraising, which in turn will postpone the start date for construction.
We cannot afford to put this project off another year.
We must take action now.
We’ve reviewed the design drawings to find places to save money while making our building beautiful and cost-effective.
We know that rebuilding the Columbus KTC was a heart-wish of Khenpo Karthar Rinpoche, and the only one of his wishes that remained unfulfilled when he passed away last year.
We chose to seek a commercial loan because we knew it would be a big challenge to raise $525,000 in eight months – but now that loan cannot materialize until we raise $325,000.
So – we need to dig in and start raising money NOW.
We are writing to you first because you were part of the team that helped us raise $2.3 million in four years to make the project happen
What we have done together is quite amazing. The banks are very impressed with our “fundraising muscles,” and that we have raised so much money thus far. And we are so close to raising the last bit of money needed to begin construction. We need your help!
Our home monastery at Karma Triyana Dharmachakra is continuing to help in any way they can. But as the six-week clock is ticking, we must have “all hands on deck.” It’s urgent for everyone to pitch in!
We realize that at this time, many people have been affected physically, emotionally and economically by the COVID-19 epidemic. We pray that all our sangha members stay well and encourage you to help your local communities and frontline workers. But we also feel the completion of a home for the dharma in Central Ohio can be a force for good in our community, so we hope you will consider giving to our rebuilding project. Every dollar moves us closer to our goal!
Here’s what can help us right now. Would you:
- Renew (and possibly increase?) your Rebuilding Fund Pledge. We need funds as quickly as we can get them.
- Ask your friends and family to contribute. Believe it or not, modest donations ($1,000 and under) from our “extended dharma family” have been a big chunk of our fundraising up to now.
- Loan us your signatures as a co-signer. If a few members are willing to co-sign for us, we can get a larger bank loan and perhaps still begin this summer. If interested in helping this way, please contact Kim Miracle at firstname.lastname@example.org.
We know that we are living in difficult times, But we also know that if we are to accomplish Khenpo Karthar Rinpoche’s last wish – the rebuilding of the Columbus KTC – we will need everyone’s help to complete the basic construction of the building.
It may take years to fully furnish and decorate our new temple, but if we could complete basic construction this year we would save money in the long run. Waiting until next year will put us at risk of costs going up again. We owe it to everyone to avoid that possibility.
Please pray the Tashi Prayer for us, or recite and dedicate your favorite mantras for us. We are convinced that prayer does work – it has helped us at other critical junctures – so please remember us in your prayers.
Ready to donate now?
You can give directly by credit card at our website: https://columbusktc.org/product/rebuilding-fund/
Ready to renew your pledge, or have questions or wish to contribute by bank transfer? Contact our treasurer Lance Moyer at email@example.com
Interested in being a co-signer on a loan? Please contact Kim Miracle at firstname.lastname@example.org.
Please share our GoFundMe page with friends and family: https://www.gofundme.com/f/yx5a5j-a-new-home-for-columbus-ktc
We look forward to hearing from you. May all beings benefit from your generosity!
With prayers and warm wishes,
Best Wishes in the Dharma,
Kim Miracle, Director
Chuck Drake, Assistant Director
Marjorie Hill Langston, Secretary
Lance Moyer, Treasurer
Lama Kathy Wesley, Resident Advisor