On Friday evening, September 8, 2017, Cultivate Community Food Co-op had an Incorporation Party at the Rellik Tavern in Benicia. We shared in drinks and appetizers ; celebrated the progress we have made since the co-op idea was first introduced to the Benicia/Vallejo community, 19 months ago; and, announced our entrance into Stage II of development.
The highlight of the evening was selling Owner Shares for the very first time. Owner shares are the financial foundation of food co-operatives. They show the level of interest in a community and supply the working capital needed to get the store open. While owner investors and commercial banks are also needed for funding the store, selling owner shares comes first and is needed before any bank will secure a business loan to us.
Our goal is to sell 1500 owner shares before our store opens. With a population of nearly 150,000 people between both cities, we think this number is doable. The sooner the members of the Benicia and Vallejo community buy an owner share, the sooner your store will open.
At our Incorporation Party we sold the first 23 owner shares! Our goal was to sell 30 shares that night and so we almost reached our goal. If you would like to purchase a share and support the development of Solano County’s first food co-op, please VISIT THIS PAGE, download and fill out our ownership application and send it in with your check to the address listed on the form.
ABOUT SHARE COSTS …
- A full fair share of Cultivate Community Food Co-op is $300 and this is strongly encouraged at this stage of our development.
- A partial share of Cultivate Community Food Co-op is $25 now and $25 every quarter (or more often) until the full fair share of $300 is reached.
- A one-time $5 processing fee is charged at the initial purchase of owner shares.
To see a list of the benefits of owning a share of Cultivate Community Food Cooperative, Inc. CLICK HERE