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A contract was originally signed with Blackwater Construction Group to construct the new facility. Per square foot cost was negotiated at $100. The new 26,000 square foot facility would have; therefore, cost approximately $2.6MM – excluding Blackwater and MI Services fees of $204,000. However, the original schedule had called for an aggressive timeline with the expectaion of raising $200,000 a month to feed the progress on the ground. Funding delays plus several upgrades (stucco to brick, etc…) added extra expenses increasing the overall cost of the New Masjid until January 1 of 2023 to $3,469,501.. The Masjid also borrowed around $100K in Qardh Hasana which was fully paid in 2022. Major current projects to complete the construction work are:
Dome and Minaret – projected at $300,000,
Perimeter Fence – $400,000,
Kitchen – 150,000.
Masjid Al-Momineen maintains two accounts with two separate banks. One account is used strictly for operational deposits and disbursements. The other is used for the New Construction project. The balance of both accounts stand at exactly $438,425 as of Jan 01, 2023. $300,000 of this balance is needed as cash reserves for emergencies leaving $111,475. The above chart excludes future constuciton projects such as a gazebo and outside Wudhu area, or a multi-level parking deck.
Shortfall
Current shortfall stands at $738,425. We are hoping $150,000 of the fence cost will come from a recently approved government grant.
