As 2023 draws to a close, we wish you all the very best wishes in the coming year. Pray that Sai Baba blesses you all with HIS grace.
We heard you in the recent AGM meeting and moving forward every quarter, we will provide you the financial and progress information with Paschim Shirdi in the form of an email/newsletter. Here are key updates on Paschim Shirdi and how we are progressing towards moving away from the rental facility at 19711 Waters Road to our Phase 1 Temple in Clarksburg, MD. We understand that there is a lot of information to read and digest. We sincerely request you to read through the letter to get a full understanding of where we are with the Paschim Shirdi developments.
- With Baba’s grace In the Summer of 2020, we purchased a 33-acre parcel of land in Clarksburg. We have engaged the services of a civil engineering firm (MHG) and started the different aspects of site development (Grading the land, Storm Water Management, Access road, and getting water, sewer, and electricity to the land). MHG put together the preliminary plans, and we got county approval – this was an important step to ensure we could proceed with Paschim Shirdi on this land.
- Subsequently, our Paschim Shirdi activities had to be paused for almost two years due to the global pandemic.
- In the Summer of 2022, we picked back the activities and engaged the services of an architectural firm (Sheladia) to design the Community Building – this is our Phase 1 Temple and will house our initial temple, allowing us to move away from the rental facility.
- Please click here for the Phase 1 development updates.
It must be noted in this regard that we live in Montgomery County, which is known to be most stringent regarding their permit vetting and approval practices. This, apart from the unexpected 2 year break we experienced due to the pandemic as set our Paschim Shirdi Phase1 plans back, where our initial plans were to move out in Sep’2024 (to coincide with our rental lease expiration), due to these delays and the increased construction costs (driven higher due to post-pandemic supply chain issues) we are now looking to moving out in the next 3 to 4 years**. The moving out time is highly dependent on the funds we can raise to meet construction needs. While working through the permits, in parallel we have been discussing the financials needed for realizing our Paschim Shirdi goals. Prior to building the Phase1 temple, we must go through site development. The outlay for developing just the required portions of the land for meeting Phase1 is $2.5M. The Phase1 Building construction is $2.5M. Apart from this, we have an outstanding balance of $580K towards the Paschim Shirdi Land Mortgage. The sum of all these three exercises is equal to $5.58 M.
DCMSS has been supported by generous, committed donors since its early days. It comprises of over 3000 members. These members have been the financial backbone of the organization.
- We are spending ~$135K in yearly rental expenditure, which if we have our own facility would help pay off our land mortgage sooner! We are net positive through our temple operations, and it is contributing about $60K towards Paschim Shirdi funds.
- We have incurred $245K towards the Civil Engineering and Architectural Firm costs. This amount has been paid in full and was made possible through the cash we generated from the Raffle Ticket Draw we conducted in 2020 ($55K), along with revenue generated from the temple operations.
- Please click here for different fundraising initiatives and ways to you could help!
The sum of all these fund-raising initiatives and funds from temple operations has given us a cushion of $920K cash balance. Additionally, we have preliminary* approval from a Bank for a construction loan of $3.2M (inclusive of the outstanding land mortgage). We have a gap of $1.6M to cover the total approximate cost of $5.8M towards Phase I Paschim Shirdi Phase I temple. (* Once the site development and building plans are approved fully by the county, the Bank will review the plans and arrive at the final loan amount, at the current time this is the best estimate we have for a construction loan).
We sincerely request all sponsors to fulfill their pledges towards Prathama Nirmana Daata and Paschim Shirdi Daata Fund Raisers. Your contributions are of paramount importance today, as we work towards the final permit approvals and finalize the loan details from the bank.
Seeking your continued support for making Paschim Shirdi a reality, we wish you all a very Happy, Healthy and Prosperous 2024! Pray Saibaba showers HIS Blessings on all!!
** These dates are tentative (subject to approvals and financial situation)