PROGRESS UPDATE JULY 2020! In our current stage of development, we're working toward 3 major goals: ownership growth, prepping for our capital campaign, and site selection. Here's what work has been done for each of those:
Goal 1: Ownership
This month we reached 660 Owners, bringing us closer to our 780 Milestone! We also made 203 phone calls to Owners to check in and provide updates. Thanks to our Outreach and Ownership Committee and our volunteers for making this happen! More to come!
Goal 2: Capital Campaign
Our Finance and Legal Committee met twice and spent an additional 10-15 hours researching capital campaigns. They are almost ready to report their research to the Board so we can start developing our campaign. We're also working with the Whitewater Community Foundation to establish a fiscal conduit so we can receive tax-deductible donations and more grants.
Also, Board members, Brienne and Lacey, met with the new Economic Development Director for the Whitewater CDA and updated her on the progress of our project. We now have monthly meetings scheduled with the CDA and UWW so we can work together as a team to build our store!
Goal 3: Site Selection
Board members, Lacey and Jen, met with our building consultant at one of our proposed sites to do a walk-through. Our consultant is putting together side-by-side comparisons of the proposed sites so we can evaluate the cost of construction along with projected sales. Once we have that info, we will plug it into our Pro Forma and send it to Finance and Legal for closer analysis.
As a reminder, we are aiming to select a site that can be between 7,000 and 8,000 square feet with room for expansion, has 20-30 parking spots, has easy access and a loading dock for our vendors, and is located somewhere that is visible and easy to get to.
Our bigger goal this year has been transparency and we hope these updates will keep you as informed as possible about our development. Thank you so much for your continued support of the GroCo!