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The new website is here!
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After many weeks of brainstorming, rewriting and tweaking, our website - www.littletoncoop.org - has been completely overhauled! Publicity Committee member Kathleen Foote headed the charge to refresh the site, spending countless hours gathering and editing information and working with the staff at Notchnet to get the new site online.
We hope the site will be enlightening and user friendly, and we plan to update the information there as often as necessary to keep folks as up-to-date as possible.
The site features a preliminary sketch of the Co-op store (emphasis on preliminary), information on how to make a member loan to the Co-op, and an update of the Facilities Committee's progress on the site work and building plans. You'll also be able to find our mission statement, frequently asked questions about the Co-op, and Board member profiles at the site.
Check it out!
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Money-money-money
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It's said that money makes the world go round, and so the Finance Committee has been hard at work developing a comprehensive plan to fund the estimated $4.6 million cost of building a 12,500-square-foot regional food store and opening by the end of this year.
The local banks have been incredibly responsive and helpful, and all six of them - Woodsville Guaranty Savings Bank, Connecticut River Bank, Laconia Savings Bank, Northway Bank, Passumpsic Savings Bank and Union Bank - have joined together for a conditional commitment of $3 million in construction financing to the Co-op.
Local development lenders - Business Enterprise Development Corporation (BEDCO), Northern Community Investment Corporation, Littleton Industrial Development Corporation, and Grafton County Economic Development Corporation - have committed an additional $725,000 of financing during construction.
The Co-op has also applied for a $500,000 Community Development Block Grant (CDBG), and Co-op leaders hope to garner $500,000 in member loans.
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Member loans - what they are, how to make one
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Speaking of member loans, information was sent to all Co-op members last month, and pledges have been coming in. So far we have member loan commitments totaling more than $125,000 - a quarter of the way to our goal!
Member loans are a critical part of our financing and are an important gauge of community support. Many fledgling food co-ops include funding from member loans as an integral part to getting started to cover costs related to store design, construction, equipment and staffing.
Our minimum loan amount is $1,000. Loans under $10,000 will earn 4% interest, and those $10,000 or over will earn 5%, with interest on all loans accrued annually.
Please contact Jody Wood (603-728-8203, jody.wood@newenglandwire.com), Jan Marshall (603-838-6877, janmarshall@wildblue.net), or Mike Claflin (603-444-5333, mclafflin@crbna.com) to learn more about member loans and other options for increasing your financial support to the Co-op. |
Management Search
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The Management Committee has begun the search for a general manager of our food Co-op. The quest is just getting underway, and the committee is developing a job description. Once a manager is hired, he or she will fill other staff positions.
Committee members include Phyllis Armstrong and Alan Hall, who are both Co-op board members, Mary Boulanger, and Carmen Menard. Ray Choate of Associated Grocers is also assisting the committee in its search.
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