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<DIV>Moscow Food Co-op Exceeds Community Loan
Goal<BR><BR> <BR><BR>
The community loan program, created to raise $350,000 to help finance the
remodeling and relocation of the Moscow Food Co-op, has succeeded, after less
than two months and $100,000 above the original target, announced Kenna Eaton,
Co-op general
manager.<BR><BR>
On January 13, 2005, the food co-op signed a lease with Beth Kenworthy for
the building that housed Garts at Fifth and Washington in downtown Moscow.
As part of the financing for that move, the food co-op planned to raise loans of
$350,000 from local supporters, $100,000 from the Clearwater Economic
Development Association (CEDA), and $500,000 from a commercial
bank.<BR><BR>
Six weeks later, at the end of February, the food co-op members had loaned the
$350,000. Other co-op members were willing to lend more, so the co-op’s
board of directors decided to replace the CEDA loan with more member
loans. The loan target was therefore increased to
$450,000.<BR><BR>
That goal was reached on March 8. The food co-op now has banked $338,000
in community loans and has $112,000 in signed promises from co-op members, with
a waiting list as
well.<BR><BR>
“We are all thrilled by the level of support shown by this community for the
Moscow Food Co-op,” Eaton said. “We are done after less than two
months. People here want to invest in Moscow, to make Moscow better, and
they are excited to help make the Co-op
grow.”<BR><BR>
Though the community loan program is now over, the food co-op is still seeking
donations to help with the move. A feast and silent auction is planned for
April 16, with 240 tickets available at $30 each. Most of those tickets
have been sold and an amazing variety of auction items have been donated, Eaton
said.<BR><BR>
In addition, Eaton cited a 50 percent increase in food co-op memberships.
Those memberships are a way everyone can support the food co-op’s move, she
said.<BR><BR></DIV></BODY></HTML>