[Vision2020] Food Co-op is moving

[Bill London]

In August, the Moscow Food Co-op will move to a new location, the former Safeway grocery store at Fifth and Washington streets in Moscow that most recently housed the Gart's sporting goods business, according to Co-op General Manager Kenna Eaton.

            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.  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).   The Co-op board of directors has signed a renewable 15-year lease with property owner Beth Kenworthy.

            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.  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.

            A similar community loan program made the last Moscow Food Co-op move possible, Knowles said.  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 221 East Third Street.  All those loans were repaid in full.  The Co-op's annual sales were about $1million in 1998.  Following the move to the present location, annual sales increased to the present level of about $3 million.  The Moscow Food Co-op now has approximately 3,000 members.

            For this move, loans will earn annual interest levels of four to six percent, depending on the amount loaned.

            "The Co-op has a great track record of both growth and repaying these member loans," Knowles said.  "We are all certain that this community will continue to support the Moscow Food Co-op."

            The Co-op has become an anchor store for downtown, bringing people to downtown Moscow and keeping the retail area vibrant and alive.  A recent Latah Economic Development Council survey that found that year-round the Co-op is the number-one reason shoppers visit downtown Moscow. 

            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.

            The Co-op will begin demolition and renovation in February at the new site at 105 East Fifth Street.  That building began as a Safeway in 1960 and then in 1978 became a sporting goods store.  The building, with 15,000 square feet, is twice the size of the Co-op's current location.  

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. 

For more information about the loan program, contact MaryJo Knowles at 882-0251 or maryjoknowles at msn.com.

 

 
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