Project We Own It

Project We Own It

this is the story of the Isla Vista Food Co-op's campaign to raise $200,000 for the down payment to buy our building. over 1,000 community supporters helped us secure our co-op for future generations of conscious consumption, sustainable living, and ethical business. along the way, meet the community that makes this place go round, staff members, co-op owners, community activists and shoppers!

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Project We Own It Is Born

October 12, 2012

What:
Meeting to plan Project We Own It, our project to buy the I.V. Food Co-op!

When?
Monday
October 15th, 2012
7:00pm

Where?
Isla Vista Food Cooperative
6575 Seville Road  Isla Vista, CA 93117

  The Isla Vista Food Co-op was alerted to the impending sale of our property, our home for the past 32 of our 40 years, about a month ago. We were given the first option to purchase, with 10 days to decide before the owner placed it on the market. Though our current lease goes until December 2013, we decided that rather than risk the property being sold to a buyer without an interest in keeping us as a tenant, that the best possible option for the Co-op to secure our future in Isla Vista was to try and accomplish purchasing our property.

As of today, due to our stability as a business that’s also showing growth, we have all but secured financing from several cooperative lending institutions. In order to receive our needed financing, we must come up with a down payment on the loans. We have roughly 30 days in order to raise the needed capital, about $400,000. Though the Co-op is an extremely stable and healthy business, we don’t have that kind of money in our reserves.

Thus, Project We Own It was born. Because of our long-standing history as a ripple-effect business that’s spent over 40 years helping educate generation after generation of Isla Vistan’s about how to be more conscious consumers, we have decided that the best way for us to accomplish this mission is to take it to the community.

Monday night (October 15th at 7pm at the Food Coop) we are hosting our first Project We Own It Community Meeting. This is a critical meeting, the first chance for you to hear how we hope to accomplish this project, and how you can be part of history. We need to mobilize as many supporters of the co-op as possible so that we can hit the ground running. This little co-op by the sea has been a resource for thousands of community members, student groups, organizations, and schools over the years… now it’s time to secure it as a resource for the thousands that are yet to come.

In Cooperation,
Melissa Cohen
General Manager
Isla Vista Food Cooperative
6575 Seville Road  Isla Vista, CA 93117

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