We’re so grateful to BB&T for their role in the success of the THRIVE! Capital Campaign of the Foundation of the Lancaster Chamber. The goals of the effort to create partnerships, enhance our local workforce and advance a strong business climate are goals that are completely consistent with BB&T beliefs and were the impetus behind the BB&T Economic Development Fund’s $1.2 million challenge grant to kick off the project in 2016.
Not surprisingly, our community stepped up and ensured that this challenge was fully met, generating a total of $3.6 million toward the project. And in mid-May, the THRIVE! Capital Campaign reached its initial $7.1 million goal to cover the building acquisition, overhaul and equipping cost. Way to go Lancaster! The Chamber and its six co-locating partners have moved in and are already benefitting from closer collaboration and more efficient operations.
The original plan for the project included provisions to carry a mortgage over the next 20 years, which the Lancaster Chamber’s board and leadership had prepared for managing responsibly. But, based on our success and strong momentum, BB&T has stepped up once again with a challenge – a VICTORY challenge – to raise funds to significantly reduce the mortgage debt.
Our final phase goal is to raise a minimum of $400,000 through this challenge by the end of this year.
BB&T Economic Development Fund has started with a $100,000 challenge grant on a three-to-one basis. So, when we reach $300,000 in new gifts from businesses and individuals, we will have fully leveraged the challenge and delivered $400,000 to the Foundation of the Lancaster Chamber. But our vision is to exceed that amount in gifts from our amazing business community, significantly reducing the long-term debt.
Please consider this challenge as a formal invitation to get involved!
If you’ve yet to contribute to the Campaign, or you want to provide another gift for the final phase, please join us. Together, we’ll further strengthen the impact on helping people thrive, businesses excel and our community prosper.
