Project Type:  Tax-Exempt Financing

Client:               Church of St. Francis Xavier - Buffalo, MN

Know the Financial Plan BEFORE the Building Committee is Formed

SITUATION:  The parish had defined a desire for an $11.5 million new elementary school and was in the early stages of planning a capital campaign to fund the school building project.  Parish leaders were unsure of the best steps to take to accomplish their goal.

CFC ROLE:  CFC was asked to analyze the facility need and the preliminary plan and to assess the parish's ability to pay for the project.  CFC conducted the analyses and recommended that the parish set its sights on a $7.8 million school, which opened successfully in September 2006.

CFC assisted with the financial analysis, hiring a capital campaign consultant, creating the financial model for loan terms and debt repayment and assembling all of the required financial documentation.  CFC also worked with the City to obtain sponsorship for tax-exempt financing.

CLIENT REFLECTION:  "CFC helped us put together the pro-forma, helped us understand the numbers and familiarized our pastor with the language and process of financial planning.  They took the time necessary to help us build a facility that we were more able to afford, certainly helping us avoid creating any financial traps.  Their advice and guidance was invaluable."

"The first people I would call would be CFC.  I recommend to any parish that they contact CFC BEFORE they even activate the building committee in order to have the financial plan in order BEFORE the building committee is formed.  Through CFC's effort we will save $1.8 million in interest expense over the life of the loan."

- Bob Lefebvre, Parish Finance Committee