The 2026 CLC Convention established two milestones that must be
met for the ILC Gymnasium Project to move forward. First, the
Convention resolved to increase the Church Extension Fund (CEF)
loan amount for the new gym to $7M. The second milestone is that
the balance of the final cost of the project must have been received
into the ILC Building Fund from a combination of contributions and
investment earnings.
If you have funds available immediately to lend to the CEF, please fill
out the Promissory Note Investment Form. Notes will be written for 5
years at up to 2.5%. Choosing an interest rate less than 2.5% will
help to lower the final cost of the project. The loan minimum is
$5,000. Those intending to loan $250,000 or more should first
contact CLC Treasurer Steve Lentz for additional information (see
contact information below).
If you plan to make a loan, but cannot do so immediately, please fill
out the investment form and include the date those funds will be
available. Be aware that funds committed to be loaned to the CEF
could incur penalties if they must be withdrawn from other long-term
instruments.
The investment form should be submitted to the General Business
Office via the options listed on the investment form. Once we have
received the required loans or commitments of $7M, the CEF may
again be closed to new promissory notes.
If both the necessary contributions and loan commitments are met,
construction on the new gymnasium can begin as early as the spring
of 2027.
Please consult the Promissory Note Investment Form for additional
information, or contact CLC Treasurer Steve Lentz:
steve.lentz@ilc.edu or (715) 836-6622