First Congregational Church outside of Asheville, NC will soon be the first group to utilize the innovative financial model we’ve been developing for the past year. After having had an initial interest meeting with them about a month ago, they’ve since been eager to move forward as being our pioneering client. This past Saturday we had a follow-up meeting with congregation leaders and our attorney to draft legal documents, including the operating agreement and articles of incorporation to create their company, First Church Solar, LLC.
As word gets out about our services we are beginning to receive requests from other churches, community groups, and municipal governments about using our financial model. As we are currently very focused on building our internal capacity, i.e. finishing an epic grant proposal, we are unable to accommodate the level interest that we are receiving from potential clients. We are, however, moving forward with one particular potential project at this time. A local shelter in Boone, NC, has been granted $25,000 to put into renewable energy at a new facility they are building. We are currently negotiating an agreement for them to use our financial model to leverage additional capital and potentially double or triple their capital pool.
By the end of 2010 we intend to have completed this particularly extensive grant process and be able to move forward with hiring key staff positions and implementing our strategic plan for community owned renewable energy. For the time being, we are juggling priorities as we negotiate new potential projects, manage existing ones, forge strategic partnerships, and determine what our revenues and expenses will be for the next 3-5 years. Although there is much to be excited about, there is still much to do, with particular regards to our cash-flow projections to be put into our business plan. We have the vision, now it’s time to build our budget, and make it a reality.
