The Food Conspiracy East Entrance Project is Here!
3rd Avenue Access!
An Invitation and Call to Action from your General Manager, John Glennon
Food Conspiracy Co-op is celebrating 50 years of Cooperation by undertaking a project our Owners and community have wanted for a long time. Our East Entrance Project will transform our Co-op by opening an entrance to the rear of our store while integrating our properties into a campus design concept with intentional green spaces and increased parking (33 parking spots!). We are thrilled to be starting the East Entrance Project, and we are writing to ask you to help us make it happen by investing in our Preferred Shares Program.
The East Entrance Project will add a beautiful multi-purpose covered courtyard for gathering and events as well as inviting garden areas. Our plans include a rooftop solar array, active and passive rainwater harvesting, and electric vehicle charging stations in our new parking corridor. The Food Conspiracy Staff will benefit from the East Entrance Project through safer and more efficient work areas all while earning higher wages from the projected sales growth generated by the project.
We are asking you to INVEST in our Co-op and our East Entrance Project through purchasing non-voting Preferred Shares. Here’s how Food Conspiracy’s Preferred Shares Program works:
—Preferred Shares build Food Conspiracy’s equity and are in addition to your Owner Equity ($180 share) and do not come with any additional voting rights in our Co-op.
—The option to purchase Preferred Shares is only available to bona fide Arizona residents or corporations.
—Simple terms: a 3% non-cumulative annual dividend with redemptions scheduled from year 8 to 18.
—We are seeking to raise $1.5 million in Preferred Shares for our East Entrance Project.
—Our minimum investment is $2,000 and we will need some Owners to invest $10,000, $25,000*, $50,000*, and even more to reach our goal.
Suppose an Owner invests $2,000 in Preferred Shares and that their investment was selected for redemption on year 11. Each year for 10 years Food Conspiracy projects to pay out a dividend of 3%, or $60 on the investment. Over the 10 year time period a total of $600 is made on the investment! In the 11th year, the redemption of the $2,000 investment is projected to begin.
If you are an Arizona resident and are ready to invest in Preferred Shares or have questions, please contact Andrea Buttrick our Capital Campaign Coordinator: [email protected] or at the store 520-624-4821.
At Food Conspiracy we are preparing our Cooperative for the next 50 years of grass roots community work around local and organic food. You, our dedicated Food Conspiracy Owners, have the opportunity to make the East Entrance Project happen for our Co-op while experiencing the feeling of shared abundance when our resources flow toward a common vision. And it will feel great when you walk into the improved Food Conspiracy Co-op store and know that you helped make it happen!
John Glennon, General Manager