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The Long Road…
- Our Market Study identified 4th Street North as the best possible site for the Co-op’s relocation. This site is located on Silver Lake between the Carpenter’s Labor Union Hall and Virginia Family Dental.
- The City of Virginia has granted us the Right of First Refusal for this site.
- We are working with an engineer, architect and a store designer to get preliminary estimates for the site development, construction, and necessary equipment. This estimate will be worked into a financial Proforma.
- Mid-December, the Board will make the final decision to move ahead with this project based on Profit & Loss Projections from the Proforma. The Board Meeting concerning this decision will be on December 17th at 5:30pm in the Virginia High School conference room.
- The Board voted to move ahead with our expansion at the December Board Meeting.
- LHB Architects & Benchmark Engineering were hired to work on bidding documents.
- Cooperative Principle #3 – Economic Participation: Owner Loan Campaign set to launch February 15th! Watch for details!
- Thanks to a collaboration between the IRRRB, the City of Virginia, and Natural Harvest, the financing of our new store has just been reduced by $213,188! This grant helps pay for site preparation prior to the construction of our building.
- Development Agreement reached with the City of Virginia, end of April 2016
- Soon after, site-work for the project was bid out (lot still under City ownership)
- June 2016: Bids came in for the site-work and a contractor was chosen. Utility Systems of America prepared the site for construction.
- City of Virginia conveyed the land of our new site to us! We now have an official address: 732 4th St N.
- LHB finalized our building plans, bids came in and Max Gray Construction was chosen as our General Contractor.
- June 2016: The Owner Loan campaign reached $238,000. Since we didn’t quite get to our goal of $280,000, we are keeping the campaign going until we reach our goal.
- July 2016: We finalized loan terms and amount with our financial partners in August. Bremer Bank, Shared Capital, The Northland Foundation and the Northeast Entrepreneur Fund are partnering to get us the additional capital we need for our project.
- Aug 31, 2016: Groundbreaking Ceremony at the new site: With golden shovels and hard hats a lot of cooperators turned out to help us celebrate this milestone.
- Dec. 15, 2016: The Owner Loan campaign has reached $279,500. We need one more owner loan of $500 to reach our goal! The store now has a roof and construction has started on the interior.
- Jan. 16th 2017: The interior has really started to take shape! The sprinkler system is connected, the walls are taped & mudded, the coolers & freezers are assembled, and the windows are installed. We also have a tentative opening date set for April 26, 2017! We are still looking for one more owner loan of $500 to reach our goal.
- Feb. 9th 2017: We have color! The walls have been painted with welcoming tones. The siding installation is very close to completion, adding warm wood tones to our street view and a splash of color the lakeside. We are very excited to see the new classroom taking shape; it has large windows overlooking the lake that will make it extra cozy. Everything is moving along as scheduled and we plan to be open April 26th!
- We would love to hear from you! Please submit your comments or suggestions to the following link: Expansion Comments & Suggestions or contact the Board directly at email@example.com