At the August 17 Session meeting, per the Session minutes, “A motion was made and seconded to approve purchase of the Campbell property [310 W. Martintown Rd.] for $75,000, contingent on an appraisal in excess of the purchase price, and to present this as a recommendation to the congregation for approval at a called congregational meeting.”

The appraisal of the property was $117,000.  Thus, Fairview would be purchasing the property for $42,000 less than its appraised value.

The purchase would be a cash purchase, using undesignated reserves.  The Finance Committee’s recommendation for undesignated cash reserves is $100,000.00.  As of August 31, reserves were at $195,088.05.  Thus, depending on how closing costs are handled, the purchase of the property would still leave $115,000-$120,000 in reserve.

Specifications of the property can be found here.

Questions considered by Session include the following:

Have we sufficiently thought and prayed about this purchase?

Yes.  Fairview inquired some years ago about purchasing the property, but the previous owner was firm about a price in the range of $130,000.  In 2017, however, Fairview covenant partner Tim Campbell purchased the property for $99,000.  Since that time, Mr. Campbell has put $10,000 into clearing the lot and removing trees. 

As many Fairview members know, Mr. Campbell has been strategic and generous in the past regarding property adjacent to the church’s property, having purchased and donated the   house and lot that includes the “Campbell Youth House” and that enabled us to build our new wing in 2006.  Mr. Campbell purchased the 310 W. Martintown Rd. house and lot with the knowledge that Fairview had long had interest in the property and with the hope that his purchase would eventually provide Fairview with the opportunity to acquire it from him. 

In February of 2020, Mr. Campbell informed the Session that a number of circumstances behooved him to sell the 310 W. Martintown Rd. property as soon as possible.  At the time, Fairview’s undesignated cash reserves were at $99,416.51.  Knowing that Mr. Campbell had put $109,000 into the property, the Session had a lengthy conversation about whether or not the church was in a position to purchase the property.  Even with assistance from the FECC and a guarantee of FECC priority for the property’s use, doing so would have necessitated a mortgage.  The prospect of additional debt and the desire to spend a season in prayer about the opportunity led Session to withhold any official decision.

In July of 2020, Mr. Campbell approached Rev. Thompson and informed him that various circumstances would enable Mr. Campbell and his wife, Susan, to offer the lot to the church for $75,000 and to consider the difference a donation to the church.  By the end of July, Fairview’s undesignated cash reserves had reached $179,816.37, meaning that a cash      purchase of the lot would still allow Fairview to hold cash reserves in excess of the Finance   Committee’s recommended $100,000.  As of August 31, Fairview’s undesignated cash reserves were $195,088.05

Presented with this new price at the August Session meeting, a number of elders who had expressed apprehension in February but who had committed to pray about the matter    articulated that they felt that this was God’s answer to our concerns from six months prior.  Among the prevailing sentiments in February was that if God wanted us to have the property, then He would make it clear and possible.  The price reduction and our increased cash reserves were clear affirmations.

Still, the Session explored many potential questions about the property and other uses for our increased reserves.  Some of these are addressed below, but Session ultimately determined that the opportunity to purchase the property at the price of $75,000 was both an answer to prayer and an opportunity that we would not be likely to encounter again for many years, if ever. 

As such, Session voted without dissent and with one abstention to recommend to the congregation that we purchase the house and property at 310 W. Martintown Rd. from Timothy and Susan Campbell for $75,000, pending a suitable appraisal.      

If we have substantial reserves, shouldn’t we save the money?

While it is true that the pandemic and other societal circumstances present some measure of uncertainty about the economy, Session felt that it would be a faithful response to God’s provision to take advantage of this opportunity rather than to hold the surplus in reserve out of apprehension or fear.  

The Finance Committee’s stated goal has been to keep our undesignated cash reserves around $100,000.  Thanks to the generosity of our covenant partners (i.e.- you) and the decrease in expenses as a result of the pandemic, we had a significant budget surplus in the   fiscal year 2019-20 and finished the year with cash reserves at $179,816.37.  This covers the purchase price and appraisal.

If we have a surplus, shouldn’t we give the money to missions?

This is obviously a legitimate question, and one which Session discussed thoroughly.  We have continued to support all of our local and global mission partners at the same rate as previous years, with our only reduction in mission spending being the cancelation of our 2020 mission trips.  Additionally, the Outreach Team has used Faith Promise funds to       provide COVID-related aid to some of our regular partners and to some local pandemic- related efforts. 

Moreover, Session believes that the property is an investment in the continued ministry and potential growth of Fairview for years to come.  In the long run, investing in the growth of the church’s overall ministry would be beneficial for all of our mission partners.  It was also noted that while we are not committing the land to FECC-specific use at this time, the   FECC is our largest and most recognized outreach, and the property is well suited to   enhance that ministry should we choose to use it in that way.

If we have reserves beyond our targeted amount, shouldn’t we put them toward the capital campaign/debt reduction?

While $75,000 is a large amount of money, it represents 5-6 months of our loan payments. Session determined that the one-time opportunity to purchase the property at this price outweighs the potential offset that we could see in 2026 or 2027, when the property at 310 W. Martintown Rd. would likely be owned by someone else who would not be interested in selling.

If we are going to purchase property, shouldn’t we have a clear plan for it?

This was an initial concern in February, but ultimately one that Session perceived to be less critical when the opportunity became feasible.  There are numerous potential uses for the property and house, each of which would require significant time and energy to research and then present in detail, but none of which are relevant unless Fairview owns the property.  The Campbells’ offer to sell the property at $75,000 is also time-sensitive, and Session felt that it would be unwise to hastily commit to a plan simply for the sake of having one.    

That said, Session did discuss some potential uses for the property.  These include a learning garden for children, an expansion or shift of the playground that could eventually create room for a breezeway expansion, an addition or expansion to the FECC, additional parking, and the use of the house at 310 W. Martintown as a youth house (as opposed to the smaller Butler House proposed in the capital campaign), among others.  Some combination of these ideas would also be possible, even likely.

Since the August Session meeting, the task force assigned to explore the renovations and additions to the Butler House that were proposed during the capital campaign has looked at the house at 310 W. Martintown and has found it to be in substantially better condition than expected.  While Session recommends purchasing the property irrespective of its eventual use, the “youth house” option is currently being researched and compared to the thus-far-unsatisfactory cost estimates for renovating the Butler House.