We received the official letter of denial for the roof collapse from Brotherhood Mutual Insurance Company based on their engineering report that alleges there was an “imminent design flaw doomed to fail.” They accepted responsibility to pay for damaged/destroyed contents.
Brown and O’Haver will submit our contents claim to the insurance company. They have issued a rebuttal letter to ask Brotherhood Mutual to reconsider their denial and pay for all damage. This is a process so we will wait on God’s timing, respond to the collapse as decisions are made and start planning for the remodel.
The TCAA family unanimously affirmed the recommendation from The Admin Team that TCAA borrow $250,000 from Compass Bank.
The Admin team approved a loan from a friend of TCAA for $100,000 at more favorable terms than the bank and will be interest only for 2 years. These funds would be “considered” part of the $250,000 and would be used to decrease our need to use the full loan amount from Compass Bank.
Schedule to put up new trusses and roof: Porter Construction will start prep work on September 30 and the projection is the repair, putting up new trusses, and re-tiling the entire roof will be completed by the end of October!