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 Do we own it?
We've been hearing some confusion of late about whether or not we have a claim on the building at 7th & Poplar. Most of this confusion stems from the fact that there is still a sign on the property announcing it as "available". It is NOT true that this building is currently available. Terre Foods Cooperative Market, Inc. currently holds a purchase agreement on this property which does not expire until the middle of October. We hope to either secure financing by that point and close on the property, or to obtain an extension so that we can continue to pursue financing. But the property is emphatically NOT available. We have been trying to have this sign taken down, or at least covered with a "sale pending" sign, but so far to no effect. We are also negotiating to be able to put our own signs up on the building (e.g., "Coming Soon--Terre Foods!"), but as of this writing, nothing has been decided. Since we do not in fact own the property outright, we have very limited rights as to what is or is not displayed. But I hope this clears up any confusion--we DO have a purchase agreement, the property is NOT currently on the market, and we ARE planning on purchasing this property. And then we can start the build out.... =)
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Member Loan Update
Our Member Loan program is off to a great start! Our loan packets went out to the first 80 member-owners, and we've already raised over $40,000. The next set of packets should be in the mail this week, so if you have not yet received one, watch the mail! We are making good progress, but we've got a long way to go to reach our goal of $250,000. Remember, making a member loan is making a real investment in your community--you are making Terre Haute a better place to live. Your loan will only be used for the buildout and maintenance of the store, and only once we have financing. Thank you very much for your support so far--let's keep it going!
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Annual Meeting, Sept.29
Vigo County Main Library, 7-9pm
Yup, it's that time again! Please plan to attend this important meeting, where we will get everyone up to speed on all that's happened in the past year (a lot!), and what our road map looks like to the opening of the store. At this meeting, we will have presentations about the store purchase, news on our efforts to hire a General Manager, where we stand on our financing, and much more. We will also have architectural drawings of the building plans--come see for yourself how the store is shaping up!
This meeting is open to the public--please bring along your friends! The more, the merrier--and the more members, the better for our store!
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Board Nominations are OPEN
The Board of Terre Foods would like to announce the opening of nominations for the next slate of Board Members. Terre Foods has a seven-member Board. Each seat turns over every two years; in even-numbered years four of the seats retire, and in odd years, three seats retire. So this year we will have three open seats for the Board. Only Board seats are elected; the officers are then chosen from the elected Board members. That is, one runs for a seat on the Board, but not for being the Secretary of the Board. The Board of Directors oversees the big-picture
aspects of our store. Education efforts,
community involvement and the co-op's commitment to sustainability are all
considered Board issues. In addition,
the Board evaluates how successfully the General Manager implements these
goals into the store's daily operations. Nominations are now open, and will close on Sept. 29th, at the end of our Annual Meeting.
For more information on the function of the Board of Directors, please visit our Board page here, or review the bylaws here. To make a nomination, please email robyn@terrefoods.org. Please remember that only owner-members of Terre Foods are eligible for Board membership. This is your opportunity to have a strong voice in the direction of the co-op--JOIN THE BOARD!
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You + 2 = A Co-op!
Watch the mail for our new You + 2 = A Co-op
Campaign! As members, you are our best resource for getting the word
out about the co-op and helping to grow our membership. Let your
friends and family know that you are a member and why you believe in
this project. If they are interested, encourage them to join the
co-op, too! Remember, we need as many memberships as possible
now--before the store is open--in order to have the best chance of
securing financing. Help us grow our store!
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