The building addition will provide the needed space to accommodate the growing ministries of the church, including their children and youth programs.
Chicago, IL (PRWEB) July 31, 2015
Ziegler, a specialty investment bank, is pleased to announce the successful closing of the $3,500,000 Minooka Bible Church Series 2015 Bond issue. Minooka Bible Church, a new client to Ziegler, began in 1979 in Minooka, Illinois, a southwest suburb of Chicago.
The congregation worshiped in the Minooka junior high school until the church’s first facility was completed at the current site in 1984. Adjacent land acquisitions were made in 1991 and 2002. Building additions to the facility were completed in 1987, 1996 and 2007. The 2007 multipurpose addition included the build out of the current sanctuary space, for a total of approximately 31,000 square feet of ministry space on approximately 13 acres. The church has grown to a current average weekly worship attendance of approximately 1,165.
A portion of the 2015 Series Bond net proceeds were used to pay off the loan from the most recent building expansion. The remaining portion of the 2015 Bond net proceeds are being used to construct of an approximately 11,581 square foot building addition that will be connected to the existing facility located on the church site. The addition will be used primarily for the church’s food pantry ministry, office space, classrooms, and youth and children ministry activities.
Steve Hron, director in Ziegler’s religion finance practice, commented, “The building addition will provide the needed space to accommodate the growing ministries of the church, including their children and youth programs.”
“Ziegler’s ability to provide a fixed-rate financing structure was of paramount concern to the church board from a stewardship perspective,” stated Lyle Selk, Chairman of Administrative Board of Minooka Bible Church.
Since our first financing in 1913, Ziegler has become a recognized leader in providing creative, tailored solutions to religious and educational institutions. Focusing on multidenominational places of worship, charter schools and K-12 private schools, Ziegler offers long-term, fixed-rate financing, tax-exempt financing and short-term, variable rate financing.
For more information about Ziegler, please visit us at http://www.Ziegler.com.
The Ziegler Companies, Inc., together with its affiliates (Ziegler), is a privately held, specialty investment bank with unique expertise in complex credit structures and advisory services. Nationally, Ziegler is ranked as one of the leading investment banking firms in its specialty sectors of healthcare, senior living, religion, and education, as well as general municipal and structured finance. Headquartered in Chicago, IL with regional and branch offices throughout the U.S., Ziegler provides its clients with capital raising, corporate finance, FHA/HUD, strategic advisory services and research. Ziegler serves institutional and individual investors through its wealth management and capital markets distribution channels.
Certain comments in this news release represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995. This client’s experience may not be representative of the experience of other clients, nor is it indicative of future performance or success. The forward-looking statements are subject to a number of risks and uncertainties, in particular, the overall financial health of the securities industry, the strength of the healthcare sector of the U.S. economy and the municipal securities marketplace, the ability of the Company to underwrite and distribute securities, the market value of mutual fund portfolios and separate account portfolios advised by the Company, the volume of sales by its retail brokers, the outcome of pending litigation, and the ability to attract and retain qualified employees.