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<DIV>Thanks for that good piece of info. The Co-op is an outstanding establishment. I have always enjoyed their excellent products and friendly atmosphere while home for a visit. I wish them well in their move to the new location, have no doubt the community will continue to support them and probably even more so, and look forward to visiting their new location in the future.</DIV>
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<DIV>Coop</DIV>
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<DIV style="FONT: 10pt Arial">----- Original Message ----- </DIV>
<DIV style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><B>From:</B> <A title=london@moscow.com href="mailto:london@moscow.com">Bill London</A> </DIV>
<DIV style="FONT: 10pt arial"><B>To: </B><A title=london@moscow.com href="mailto:london@moscow.com">vision2020@moscow.com</A>
<DIV style="FONT: 10pt arial"><B>Cc: </B><A title=london@moscow.com href="mailto:london@moscow.com">mcaboard</A></DIV>
<DIV style="FONT: 10pt arial"><B>Sent:</B> 1/21/2005 12:45:04 PM </DIV>
<DIV style="FONT: 10pt arial"><B>Subject:</B> [Vision2020] Food Co-op is moving</DIV>
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<P class=MsoNormal style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><FONT size=3><FONT face="Times New Roman"><SPAN style="mso-bidi-font-size: 12.0pt">In August, the Moscow Food Co-op will move to a new location, the former Safeway grocery store at Fifth and </SPAN><?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1:State><st1:place><SPAN style="mso-bidi-font-size: 12.0pt">Washington</SPAN></st1:place></st1:State><SPAN style="mso-bidi-font-size: 12.0pt"> streets in </SPAN><st1:City><st1:place><SPAN style="mso-bidi-font-size: 12.0pt">Moscow</SPAN></st1:place></st1:City><SPAN style="mso-bidi-font-size: 12.0pt"> that most recently housed the Gart¡¯s sporting goods business, according to Co-op General Manager Kenna Eaton.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o:p></o:p></SPAN></FONT></FONT></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN style="mso-bidi-font-size: 12.0pt"><FONT size=3><FONT face="Times New Roman"><SPAN style="mso-tab-count: 1"> </SPAN>The costs associated with the move, including major renovation of the building, new equipment and products, are expected to total about $1 million, Eaton said.<SPAN style="mso-spacerun: yes"> </SPAN>The financing will come in the form of funds already saved by the Co-op ($100,000), a loan from a local bank ($400,000), a loan from Clearwater Economic Development Assn ($150,000), and loans from Co-op members ($350,000). <SPAN style="mso-spacerun: yes"> </SPAN>The Co-op board of directors has signed a renewable 15-year lease with property owner Beth Kenworthy.<o:p></o:p></FONT></FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN style="mso-bidi-font-size: 12.0pt"><FONT size=3><FONT face="Times New Roman"><SPAN style="mso-tab-count: 1"> </SPAN>The bank financing has been secured and the Co-op has begun a community loan program to raise the $350,000 in loans from local individuals and families.<SPAN style="mso-spacerun: yes"> </SPAN>Former Co-op general manager MaryJo Knowles will coordinate the community loan program with the goal of raising not only $350,000 in loans, but also donations and paid-in-full memberships of approximately $15,000.<o:p></o:p></FONT></FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><FONT size=3><FONT face="Times New Roman"><SPAN style="mso-bidi-font-size: 12.0pt"><SPAN style="mso-tab-count: 1"> </SPAN>A similar community loan program made the last Moscow Food Co-op move possible, Knowles said.<SPAN style="mso-spacerun: yes"> </SPAN>In the fall of 1998, the Co-op raised $77,000 in loans and $6,000 in donations to move the business to its existing location at </SPAN><st1:Street><st1:address><SPAN style="mso-bidi-font-size: 12.0pt">221 East Third Street</SPAN></st1:address></st1:Street><SPAN style="mso-bidi-font-size: 12.0pt">.<SPAN style="mso-spacerun: yes"> </SPAN>All those loans were repaid in full.<SPAN style="mso-spacerun: yes"> </SPAN>The Co-op¡¯s annual sales were about $1million in 1998.<SPAN style="mso-spacerun: yes"> </SPAN>Following the move to the present location, annual sales increased to the present level !
of about $3 million. <SPAN style="mso-spacerun: yes"> </SPAN>The Moscow Food Co-op now has approximately 3,000 members.<o:p></o:p></SPAN></FONT></FONT></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN style="mso-bidi-font-size: 12.0pt"><FONT size=3><FONT face="Times New Roman"><SPAN style="mso-tab-count: 1"> </SPAN>For this move, loans will earn annual interest levels of four to six percent, depending on the amount loaned.<o:p></o:p></FONT></FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN style="mso-bidi-font-size: 12.0pt"><FONT size=3><FONT face="Times New Roman"><SPAN style="mso-tab-count: 1"> </SPAN>¡°The Co-op has a great track record of both growth and repaying these member loans,¡± Knowles said.<SPAN style="mso-spacerun: yes"> </SPAN>¡°We are all certain that this community will continue to support the Moscow Food Co-op.¡±<o:p></o:p></FONT></FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><FONT size=3><FONT face="Times New Roman"><SPAN style="mso-bidi-font-size: 12.0pt"><SPAN style="mso-tab-count: 1"> </SPAN>The Co-op has become an anchor store for downtown, bringing people to downtown </SPAN><st1:City><st1:place><SPAN style="mso-bidi-font-size: 12.0pt">Moscow</SPAN></st1:place></st1:City><SPAN style="mso-bidi-font-size: 12.0pt"> and keeping the retail area vibrant and alive.<SPAN style="mso-spacerun: yes"> </SPAN>A recent Latah Economic Development Council survey that found that year-round the Co-op is the number-one reason shoppers visit downtown </SPAN><st1:City><st1:place><SPAN style="mso-bidi-font-size: 12.0pt">Moscow</SPAN></st1:place></st1:City><SPAN style="mso-bidi-font-size: 12.0pt">. <o:p></o:p></SPAN></FONT></FONT></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN style="mso-bidi-font-size: 12.0pt"><FONT size=3><FONT face="Times New Roman"><SPAN style="mso-tab-count: 1"> </SPAN>The Co-op has also built a network of local organic growers who provide fresh produce and other products, sells quality deli and bakery foods made on-site, and has an experienced staff, knowledgeable about natural foods.<o:p></o:p></FONT></FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><FONT size=3><FONT face="Times New Roman"><SPAN style="mso-bidi-font-size: 12.0pt"><SPAN style="mso-tab-count: 1"> </SPAN>The Co-op will begin demolition and renovation in February at the new site at </SPAN><st1:Street><st1:address><SPAN style="mso-bidi-font-size: 12.0pt">105 East Fifth Street</SPAN></st1:address></st1:Street><SPAN style="mso-bidi-font-size: 12.0pt">.<SPAN style="mso-spacerun: yes"> </SPAN>That building began as a Safeway in 1960 and then in 1978 became a sporting goods store. <SPAN style="mso-spacerun: yes"> </SPAN>The building, with 15,000 square feet, is twice the size of the Co-op¡¯s current location.<SPAN style="mso-spacerun: yes"> </SPAN><o:p></o:p></SPAN></FONT></FONT></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><SPAN style="mso-bidi-font-size: 12.0pt"><FONT size=3><FONT face="Times New Roman">At the new store, the Co-op is considering adding sales of fresh natural meats as well as fresh-ground flour, expanding the Co-op Deli seating area with the inclusion of a small stage for performances as well as expanded wall space for art exhibits, and increasing the size of all sales departments. <o:p></o:p></FONT></FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><SPAN style="mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: normal"><FONT face="Times New Roman" size=3>For more information about the loan program, contact MaryJo Knowles at 882-0251 or </FONT><A href="mailto:maryjoknowles@msn.com"><SPAN style="COLOR: windowtext; TEXT-DECORATION: none; text-underline: none"><FONT face="Times New Roman" size=3>maryjoknowles@msn.com</FONT></SPAN></A><FONT size=3><FONT face="Times New Roman">.<o:p></o:p></FONT></FONT></SPAN></P>
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