Financial

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Property values of IMAAM Center

 
PROPERTY VALUES
1. 1611 Veirs Mill Rd
IMAAM obtained the house on 1611 Veirs Mill Rd in 2001 through community fundraising for the amount of $265,000. The loan was paid of in2002. The property is now valued at $300,000.
2. 13314 Okinawa Rd
The Okinawa house was offered by the previous owner for sale to IMAAM. IMAAM  quickly decided to buy it through financing, and after having “Arisan Masjid” (Qardan Hasanah), the property was paid off in 2006. The property is now valued at $300,000.
COSTS
Permit processing:
Consulting: $45K (est)
Permits: $10K (est)
Renovation: $200K (@$125/sqft)
Use Permit Process: 4-6 month–Summer 2010!!
FUNDS NEEDED BY FALL 2010: ?
Current Balance: ???
FUNDING
IMAAM Center is funded by IMAAM through community fundraising, direct debits, and donations from donor.