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Terre Foods Cooperative Market is a member-owned, whole foods grocery store that is forming in Terre Haute, Indiana. We will be a full service grocery store, open seven days a week, that will serve Terre Haute and the Wabash Valley community by providing access to local, organic whole foods and products at a fair price.
Terre Foods is being formed by a group of people who value good food and a strong, sustainable community. We believe so strongly in the benefits of a cooperative grocery store that many of us have become member-owners before the storefront has opened. Becoming a member and telling others about our venture are the best ways that you can help make this market a reality. Once our doors are open, everyone, members and non-members alike, will be able to shop at a place that focuses on quality and building community.
2015 Annual Report
You may download a copy of the 2015 Annual Report to Member-Owners HERE. If you would like a copy of this report sent directly to you by mail, please contact the co-op at firstname.lastname@example.org. We encourage all co-op owners to read through the report, and stay up-to-date on your co-op's progress!
DON'T FORGET! Annual Meeting Tuesday, 1/27, at 6pm, at Central Presbyterian Church!
Election Season Underway
Hello Terre Foods member-owners!
Participating in your cooperative's Board of Director's election is an important part of co-op ownership, and it maintains our owners' democratic control over the business. Here's the schedule:
Nominations open now and close at midnight on December 22. Anyone interested in running for the Board of Directors should contact Lorrie Heber at email@example.com for more information about the process.
Elections will be web-based through our co-op's website. On January 10, all owner households will receive a direct link to the voting website. Then, elections open at midnight January 11 and close at midnight on January 25. You will need your member number to log in and vote--please feel free to contact us if you cannot locate your member card and we will look up your number for you (contact firstname.lastname@example.org).
Election Results will be announced first at the Annual Meeting on January 27, 6 pm, at the Central Presbyterian Church. Results will then be emailed to all owner households.
If you have any questions, please don't hesitate to contact us. Thank you for your participation in the elections and your participation in this exciting project!
Board Update December 16, 2014
Your co-op board met on December 16 to continue work on getting the store open. We met via Skype with Ben Sandel, our lead consultant with CDS. We brought him up to date on our project. He gave us some valuable advice on handling negotiations with our prospective property owners. We also revisited the process and timeframe for getting a store open once a letter of intent has been signed with a property owner. We've been pretty focused on site selection to date and it's exciting to think of and plan for the next phase!
We also spent time talking about our financing package. About half of the project cost will need to come from you, our member owners, either in member loans, in the sale of preferred shares, or a combination of both. We have serious decisions in the next few weeks about terms of a loan program and whether we would develop a preferred share option. Our decisions along with the legal documents that would be given to prospective lenders or shareholders need to be vetted to ensure legality and we're ready to get this process done. In the meantime, we have continued to have very favorable discussions with first line lenders (banks, etc.) to keep them abreast of our project.
A reminder that nominations for board elections are being accepted now through December 22. Contact Lorrie Heber at email@example.com for more info and a nomination form. The Annual Meeting with be January 27 at Central Presbyterian Church. Look for the Annual Report in your mailbox soon.
On behalf of the board of directors for your Terre Food Cooperative Market, have a happy and healthy holiday season full of joy, hope and love.
Board Update December 2, 2014
Your co-op board of directors met Last Tuesday this evening to continue plans for our store.
We inch closer to making an offer for site (s) and it's a bit like playing whack-a-mole. For example, we did market feasibility and pro forma on a site that fit our criteria. We were ready to begin negotiations ... and then the property came off the market. We have others in the wings, however, so we continue to move forward. Work continues and the prospects are still very, very good.
The annual meeting will be on January 27 in the evening at Central Presbyterian Church. You'll receive information in the mail along with your annual report. Mark your calendars and watch your mailbox! Nominations for elections to the board of directors are now open. Three seats are up for election in this cycle. Nominations will close on midnight December 22. To find out more or submit a nomination, contact me, Lorrie Heber at firstname.lastname@example.org.
Have you "liked" us on Facebook? If not, please do! If so, please post a photo of yourself and tell the world why you are Terre Foods!
All the best to you and your loved ones this holiday season!