We’ve got siding!
The Background
In the spring of 2022 the UUSA received information that our meetinghouse required immediate, professional attention. The siding on the old part of the building had failed, putting at risk the integrity of the whole building.
Our course of action was clear. We had to vet and hire a contractor, purchase materials, and complete the work in the fall of 2022.
The building project itself was completed without a hitch — thanks, in large part, to the considerable efforts of UUSA volunteers. Work was completed on time and under budget. The building looks better than ever.
If you want to see how our beloved meetinghouse has changed over the past 130 years, see:
The Siding Loan
We used over $46,000 of our cash reserves as a down payment to get the project started, but we had no option other than to finance the rest. We explored several possible grant opportunities but found we were not eligible. So, we secured the financing through careful consultation with our long-time financial partner at Florence Savings Bank. We borrowed $173,942 and were making monthly loan payments of $1,188.37 from financial reserves for the first year.
During our Shingle Mingle in the fall of 2023, we raised $42,000. We will apply $32,000 that has been received to date (Feb-24) to pay down the principle. The UUSA Finance Committee has recommended that we commit an additional $50,000 from our financial reserves towards the loan, bringing the total to $82,000 to pay down the loan.
The payments enable us to restructure the loan and reduce our monthly payments to approximately $645 per month, which will come out of our annual budget.
Thank You!
We are greatly appreciate all of the people who helped arrange for the necessary repair work. We appreciate the contributions from the congregation toward paying down the loan so that the monthly payments are manageable. This has been a community effort in response to an urgent situation.
