The Soto Mission of Aiea is aiming to begin construction of the Soto Mission of Aiea Activity Center in 2022. This activity center will be the home of the Taiheiji Adult Care Center, a safe, modern and affordable facility for our elderly kupuna. In addition, the layout of the new building will also include classrooms, meeting rooms, and a meditation hall to further support the community with new activities.
In partnership with the Hawaii Kansha Foundation, a private family charitable organization with strong roots to the temple, Taiheiji began the sale of the Legacy-Endowment Bond in January 2021. With an extremely generous gift of $400,000 from the Hawaii Kansha Foundation to get us started, we officially embarked on our journey in January 2021 to raise an additional $1,000,000 in investments needed to secure the project.
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Collecting so much in investments was never seen as an easy task, and when compounded with the overall difficulties of the COVID-19 pandemic, I am extremely grateful to everyone for their participation.
Although we reached our goal to raise $1,000,000 in October 2021, the updated construction bid we received inflated to over $3.3 million! This was due to skyrocketing construction costs associated with the ongoing COVID-19 pandemic.
Additional bonds now available!
Thankfully, a handful of Legacy-Endowment Bond investors generously and thoughtfully donated their bond purchases back to the temple (totaling $180,000)! We have been very successful in reselling a large portion of that that and only have $30,000 in bond shares left for purchase!
The additional bonds being made available for sale comes at a very crucial time in this project. Taiheiji is continuing to work with the architects, engineers and various contractors to lower the cost to a more affordable amount through value engineering and various plan revisions. In the end, however reluctantly, we may need to introduce bank financing to cover the shortfall. But for now, Taiheiji will continue to work hard to improve its position with each bond sale.
Legacy-Endowment Bond has begun!
On January 1, 2022, the 20-year Legacy-Endowment Bond kicked off. However, our efforts to raise more money for the project continue as we try to sell the remaining $30,000 in bonds. Even still, we humbly request for donations to help Taiheiji effectively reach our goal.
I still believe that this project is the best chance we have that will create HOPE for the future of our temple. If you have not yet contributed to this project, your participation is needed now more than ever! For those who have already generously donated or invested in this project, I humbly ask you to encourage your family members, and friends to invest and/or donate.
Let’s work together to create HOPE and a sustainable future for the Soto Mission of Aiea as well as for the betterment of the Aiea community.