South Philly Food Co-op Hits First Goal of 250 MembersBy Mike Kaiser |
The South Philly Food Co-op has reached their first milestone goal of 250 member-owners less than a year after beginning its member-owner drive in June 2011.
The South Philly Food Co-op is one of several co-ops in the city gaining traction. In March, Mariposa in West Philly moved into a larger space on Baltimore Avenue. Next month, the Philadelphia Cooperative Alliance will hold a one-day conference on economic democracy and community development with 11 co-ops from Pennsylvania participating.
Next, the South Philly Co-op will move on to the Feasibility stage of its start-up process, with a goal of 400 member-owners. The Board of Directors will convene a real estate committee to evaluate potential sites and financing options.
Each of the Co-op’s first 250 member-owners, known as the “Founding Members,” have invested a $200 lifetime member equity share, which will be leveraged to finance the start-up costs of the store.
The South Philly Food Co-op is slated to open its doors in 2014. You can find out more about the co-op and sign up as a member-owner here.
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