Impressive Round-Up Support and Relocation Project Update
First and foremost THANK YOU! to all who have rounded up at checkout to help us reach our goal of $20,000. These funds have covered expenses we’ve incurred moving forward on the purchase of our new location – expenses not covered by the Downtown Revitalization Initiative (DRI) funds. So far your donations have paid for: an appraisal, a property condition assessment, a deposit with a Letter of Intent to purchase the new location, and a loan application fee. Other expenses we will be incurring in the very near future are purchase and sale agreement deposit, legal counsel fees, and a deposit to begin store design.
As we look at these additional expenses we’ve decided to extend the Round-Up for Relocation campaign to a new goal of $40,000. Thank you all again for those that have, and are able to contribute in helping meet this new goal.
Relocation Project Update
To keep you informed, here’s the latest news about our expansion and relocation project update.
- The Co-op is in the process of purchasing 63 Market St and we expect to close on the building in early 2022.
- We will spend 2022 planning, designing, and hiring contractors to build the new store and will open sometime in 2023.
- Around half of the $3 million project will be covered by the DRI, a grant from New York State. We will raise the additional $1.5 million through fundraising and borrowing. That is why Rounding Up is still a great thing to do!
- Co-op members will have the opportunity to lend the Co-op money for this venture. We have already raised more than $170,000 in member loan pledges, although the campaign has not yet officially begun. We are waiting until the building closing date is set to truly launch the fundraising campaign.
- Donations and grants are also being sought. There is a mechanism in place to make tax deductible donations and grants (we have a nonprofit fiscal sponsor). If you would like more information about making a donation now, please let us know.