This is the recommendation discussed on Wednesday, April 2, at 6:15 pm in the Fellowship Hall and what we will vote on Sunday, April 6, in both worship services.

The Building & Renovation Committee and Financial Board with the unanimous affirmation of the General Board of Deacons recommend that Bayshore Baptist Church move forward to complete the revised Phase One of the Master Plan not to exceed $3.2 million utilizing pledges and securing financing as needed.

Considerations:

1. The amount committed in Love's Open Door Campaign and from the Lillian Davis estate is $2,184,950 as of

March 27, 2008.

2. Ruben Swint's rule of thumb is that we should not owe more than three times our annual budget. For us that would be approximately $2.8 million.

3. The Building & Renovation revised the Phase One project from $4.1 million to less than $3.2 million.

4. Phase One includes the following:

• Roof replacement on Sanctuary, education buildings and over the office. It does not include roof replacement over the children's area and fellowship hall.

• Repair of outside windows in Sanctuary and educational buildings.

• New air-conditioning in all renovated areas and additional units on the second floor.

• Re-wiring and new plumbing in renovated areas.

• Preschool space renovation. All weekday preschool classrooms will be renovated--new preschool reception area and new rooms for infants and toddlers.

• New music suite on second floor.

• New restrooms on first floor.

• Elevator

5. Total estimated cost of the revised Phase One is $3,198,479. This includes $2,889,527 for the base estimate of cost; $288,952, a 10% contingency, and $20,000 for video, audio, and lighting for the youth stage to be used by both students and children.