Taking it to the Community: Students Mobilize at 1st Project We Own It Meeting
October 21, 2012
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 40 days in order to raise the needed capital, about $200,000. 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 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.
RSVP to attend your General Membership Meeting on Sunday, October 21st
4-5pm @ the Co-op, followed by the first official Project We Own It Meeting!