Some exciting news! The board has selected three possible locations for the market, and has commissioned a new market study so that we can get a professional opinion on potential sales at each site. We’re not ready to say more about those locations other than that they are generally in the downtown area.
There are a lot of potential pitfalls between here and an announcement--the market study may show that none of them will work, or we may not be able to negotiate a lease that allows the market to be viable.
The big news is that we’re moving forward—stay tuned for further developments.
In discussions about slow food and local food, an important piece of the puzzle is patient money. Your financial support of your co-op, through the purchase of your $100 common share and—if you were able—your loan or purchase of preferred shares is one significant way in which you support your cooperative. (The loans are called Community Investment Notes or CINs).
Both the CINs and preferred shares earn a return on your investment annually, but there is a difference. The dividends on the preferred shares can be deferred by the board when necessary, while the interest on the CINs is paid annually regardless of the situation with the co-op.
The board selected December 31 to be the date on which the return on both investments is calculated. Dividends on preferred shares are being accrued and will be paid out when the cooperative is on its feet financially. Preferred shareholders will be receiving a notice soon of the dividends earned since the date of your investment, and CIN community note holders will be receiving an interest payment.
The board of directors is grateful—beyond words, really—for your support, confidence and patience!
Family Farm Day
It’s coming! Our 3rd Annual Family Farm Day will be April 29th, from 2:00 pm to 8:00 pm at Elodie Farms. Put it on your calendar and save the date—it’s always fun for all. More information will be coming soon!