Grocery (15,000-20,000 sq. ft.) Compatibility (with other - - PowerPoint PPT Presentation

• Grocery (15,000-20,000 sq. ft.)
• Compatibility (with other proposals)
• Business plan in development

Location, Location, Location Grocery could be sited along 30th Street or

• Market. Because Muhammad Ali Blvd is
• ne-way, its not advised to place it there

Use Mix

Financing

Start-up and Equity Funding Membership Shares $162,500

500 members @ $100 share 100 members @ $1,000 share ($100 share + $900 donation) 500 members @ $25 low income senior shares

Grassroots Fundraising $100,000

Events, Churches, Crowd-sourcing

Foundations/Private Philanthropy $500,000 Public investment/grants $500,000

Metro Government, State and Federal – USDA

$1.26 million Total Equity Development and Loan Funding Private grants and loans Member Loans Individual sources of financing

Non-traditional Model = Non-traditional Financing Much depends on new building vs existing building

Community Partners & Advisors

Community Partners

• Center for Neighborhoods
• Community Farm Alliance (CFA)
• Food in Neighborhoods Community Coalition
• New Roots - Fresh Stop Markets
• Shawnee Arts and Cultural Center

Technical Assistance Advisors

• The Kentucky Center for Agriculture & Rural Development (KCARD)
• University of Louisville - Brandeis School of Law and Business School

Other Cooperatives

• Apple Street Market (Cincinnati, OH)
• Good Foods Co-op (Lexington, KY)
• Greensboro Community Co-op (Greensboro, NC)
• Mandela Foods Co-op (Oakland, CA)
• Pogue’s Run Cooperative (Indianapolis, IN)

Co-op Alignment with Vision Louisville

Sustainability: Member-owned business; Fresh food is a basic human need Economy: Cooperative ownership model provides community-wealth building; Supports local farmers Livability: Affordable, healthy food and living wage jobs Connectivity: Shoppers from all parts of city; Community-owned & member directed Creativity: Community-driven business with multiple community partners Health: Provide fresh, locally-sourced produce at an affordable price and convenient location where there is little access Authenticity: Community-driven business model

Co-op Alignment with Community Priorities

Sustainability: Community-driven business Economy: Provide community-owned business opportunity to West Louisville residents; Commitment to Fair Labor Standards Livability: Enhance neighborhood by providing a reliable source of fresh foods within the urban core Connectivity: Grassroots effort with extensive community listening; anchor store for other businesses on Heritage West site Creativity: Community hub for art, music, cultural and education Health: Provide source of high-quality fresh produce at affordable prices Authenticity: Member & community-driven grassroots effort

Organizing & Development Timeframe

Summer 2017

• Family-oriented cooperative workshops begin (July 10)
• Feasibility study (UofL MBAs)
• Hire project manager

Fall 2017

• Begin business planning (UofL MBAs)
• Continue outreach and workshops – narrow location options
• Launch membership campaign

Winter/Early 2018

• Host Summit
• Secure location and hire developer
• Launch capital campaign

Summer 2018 - Ground breaking!

Winter/Early 2019 - Store opens!