If you missed the special member meeting on Thursday, September 10, the CreekSide Board presented an action plan that will position CreekSide for a long-term sustainable future. Here are the highlights:

- UPCOMING BOARD ELECTIONS

There are seven seats on the CreekSide Board up for election this fall. Show your commitment to the co-op by running for the board! Board involvement is the best way to realize your vision for the store. More information is available here.

- REFINANCE OPPORTUNITY

CreekSide’s current mortgage lender has agreed to accept a $550,000 pay-off of our original $3+ million loan.  The new mortgage would reduce our monthly mortgage expenses by over $16,000.

A group of local community members, led by CreekSide Board President Jeff Rotter, have agreed to provide the new $550,000 loan. The new lenders are requiring that the CreekSide community pay for the closing costs, which include $30,000 in taxes and $10,000 in administrative costs, or $40,000 total.

The funds must be raised by September 29^th in order to complete the refinance or we will miss this opportunity.

If the community shows its support and the opportunity to sell beer is financially feasible, the lender group is prepared to lend an additional $50,000 to go towards securing the beer license.

- EQUITY CAMPAIGN

The CreekSide Board has launched an Equity Campaign to raise the money for the refinance. So far, the campaign has raised over $14,000!

Look for CreekSide community members tabling in the store to share the news about the refinance and to encourage members to invest additional equity and non-members to become members today.

The best way to invest equity is to bring a check to the store. You may also make an online payment here.

- COUNTY LOAN REQUEST

With the support of UpLift Solutions President Jeff Brown, CreekSide has made a request to the county for a $250,000 loan, which will be decided by the end of October.

The support that the CreekSide community shows for the co-op through the Equity Campaign will be an important factor in the county’s decision whether or not to grant any or all of these funds. If granted, these funds will help CreekSide pay down its vendor payables and put the store on much more solid financial footing moving forward.

- UPLIFT SOLUTIONS REPORT

Cheryl Laubach, our consultant from UpLift Solutions, introduced herself to our members. With over 40 years of retail grocery experience, Cheryl assured the membership that she has full faith in CreekSide’s ability to become a sustainable operation.

Cheryl has extensively reviewed sales reports and collected input from the CreekSide community via weekly newsletter surveys and monthly roundtable discussions. With this data, Cheryl has been preparing a comprehensive reset of the store, to be completed by early October.

Cheryl and support staff from UpLift have also been training and developing staff, establishing policies and procedures, developing a Quality Assurance program, assisting with the Board’s search for a General Manager and Prepared Foods Department Manager, and focusing on community engagement.

- TAX DEDUCTIBLE DONATION OPPORTUNITY

Because UpLift Solutions is a 501(c)3, or a not-for-profit organization, CreekSide community members can support the co-op with a tax-deductible donation. To make a tax-deductible donation, bring a check to the store made out to “UpLift Solutions” with “CreekSide” on the memo line.

Tax-deductible funds raised through UpLift will be applied toward their $60,000 consulting fee.

- GENERAL MANAGER SEARCH

The Board’s search for a General Manager is well underway with UpLift’s support. The search committee’s initial pool included over 65 applicants. The committee will select 3-5 candidates to present to the Board for final selection. We anticipate making a hire in October.

With UpLift’s support, the size and quality of our applicant pool for General Manager is far superior to any previous search. We have great confidence that we will find the right candidate to continue UpLift’s work and lead CreekSide to the next level of success and sustainability.

- UPCOMING VOLUNTEER OPPORTUNITIES

Cheryl will soon be calling for CreekSide community volunteers to help with the reset of the store, as well as a clean-out of the CreekSide kitchen. Keep an eye out for announcements about these opportunities and support CreekSide with your time and energy.