Progress

Sorry for the delay in updating the expansion blog.  I have been so busy working on the expansion that I have neglected updating the site.  Plus, things have been changing daily - sometimes forward and sometimes backward so it is tough to put the progress into words.  I am happy to report that things are moving ahead and we plan to start construction of the new store in November.

Temporary Location
Our temporary location fell through so I had to find a new temporary home for our Co-op.  I am happy to say that we have secured a location and the lease is signed.  Our winter home will be at 2066 West Highway 61 in Grand Marais.  It is the former home of the bowling alley, The Howling Wolf and Gunnars.  The building is huge so we will be able to offer everything that we offer in our current location.  Plus, you will truly be able to belly up to the bar!  Sorry, we won't be selling any alcohol, but we will have our delicious muffins, scones, breakfast bars and coffee.

Owner Loans
We have collected over $450,000 in Owner Loans but would like to receive $150,000 more to complete our financing.  If you've been contemplating lending money to the Co-op, there is still time and no time like the present.  We have space in our 5,6 and 7 year terms and interest rates range from 2-3.5%.  Give Jennifer or Marietta a call at 218-387-1939 if you have any questions or would like to lend money.

Move Date
We are still reluctant to announce a move date, but it will be in early November and we could use volunteers.  Check Boreal and our website for updates on what volunteer opportunities will be available.

Stay Tuned
I'll try to update the blog more often with photos and progress as we expand our Co-op.

Owner Loan Progress

We did not reach our goal of $500,000 in Owner Loans by August 31st, but we have collected over $400,000 in Owner Loans.  We are well over half way to our goal of $600,000 in Owner Loans.  Thank you.  If you haven't lent yet, there is still time.  We plan to continue collecting Owner Loans until we reach our goal of $600,000.  Since we have had such a great response to the Owner Loan Program, some of the terms have filled.  Our 8 and 9 year loan slots are full, but there is still plenty of space in the 6 and 7 year terms.  E-mail jennifer@cookcounty.coop or call (218) 387-1939 if you would like to reserve space in a specific term or if you have questions about the Owner Loan Program.

Owner Loan Rates and Terms

Amount	5 YRS	6 YRS	7 YRS	8 yrs-full	9 yrs-full
$1,000-4,000	2.00%	2.25%	2.50%	3.00%	3.75%
$5,000-9,999	2.50%	2.75%	3.00%	3.50%	4.25%
$10,000 and up	3.00%	3.25%	3.50%	4.00%	5.00%

Temporary Location & Loans

Details about our temporary location are still being finalized, but we're planning to make the Grand Marais Gateway Lodge our winter home.  The Gateway Lodge is located next to WTIP Radio at 1800 West Highway 61 on the west end of Grand Marais, Minnesota.  There is plenty of parking and it's easy to access.  Our store will be in the restaurant and we will have offices and back stock in a couple of motel rooms.  Space will be tight in the store, but we plan to offer most of the same products and services that we have now.  Our move in date will be sometime in October - we'll have an exact date once our financing and building plans are complete.  I'll keep everyone posted as we get closer to the actual move.

Owner loans are doing well.  We are past the halfway mark!  We now have $321,000 in loans.  Hopefully we will have $500,000 in the Credit Union by August 31st and $600,000 by September 30th.  If you're thinking of lending money, now is the time to give.  The 9 year term is full and the 5 year term is filling up fast so give us a call at 218-387-1939 if you would like to reserve space in a specific term.

If you would like more information about the building project, attend our Expansion Meeting at 7:00 PM on Tuesday, August 21st.  The meeting is being held at the 4-H Log Building by the Community Center. The building team from Builders Commonwealth and board members will be on hand to answer questions about the new building, our temporary space and the Owner Loan Program.  Coffee and cookies will be served.

Owner Loan Terms

Money continues to come in for our Owner Loan Drive.  We have raised $284,000 - almost half of our $600,000 goal!  Our 9 year term has filled, but we still have plenty of space in our 6 year - 8 year terms and there is still a bit of room in the 5 year term.  Interest rates range from 2-4%.  Give us a call at 218-387-1939 and reserve space in a specific term.  We would like to have another $200,000 in hand by August 31st.  Thank you.

August Expansion Meeting

Tuesday, August 21st

7:00 PM

4-H Log Building by Community Center

 

As we get closer to finalizing plans for our new store, we decided to have another Expansion Meeting to unveil the new store plans and layout and answer questions about the Owner Loan Program.  We'll be nearing the end of our Owner Loan Drive so we will be pushing to reach our goal of $600,000.  Stop by the meeting if you would like more information about the new store or if you have questions about our Owner Loan Program.  If you can't make it to the meeting, feel free to stop by the store anytime to ask questions about the project or the Owner Loan Program.

Owner Loan Progress

We're making progress with our Owner Loan Program! We have 200,000 in loans and pledges. We still need $400,000 to reach our goal. Please consider lending money to your Co-op. Call us at 218-387-1939 if you have any questions or would like an Owner Loan Packet mailed to you.

Four Season Mosaic Mural

The Cook County Whole Foods Co-op, along with mosaic mural artists  
Kelly Dupre and Jana Larson,  have been working on a plan to  
respectfully deal with the mural that now graces the north wall of the  
Co-op building.  The present co-op building is scheduled to be  
demolished in October to make way for a new facility. Upon careful  
examination by several knowledgeable tradesmen, it was determined that  
the wall the mural is attached to would not withstand the stress of  
either being moved in its entirety or having major construction going  
on around it. After much discussion it has been decided that the mural  
should be dismantled in pieces.  As the design process for the new Co-
op continues it is hoped that parts of the mural can be incorporated  
into the new construction.  It is also possible that pieces would be  
moved to other locations around the community.  The Co-op is committed  
to help support the mural project financially and it is hoped that  
more funding can be generated through a citizen campaign.