Today, at a short but intense meeting of the steering committee, it was agreed by all to move the press conference forward two days to Friday in order to have the escrow account and website active.
Everyone interested in showing support for the co-op, everyone who showed at our first meetings, and everyone interested in participating in this process is urged to attend.
The press conference will be on the steps of Waterfront Market at 11 AM.
What we are doing now is accepting pledges for general membership. This is for everyone who plans on becoming a member of the co-op. The recommended pledge is $100, which goes into the escrow account set-up for Friends of Waterfront Market.
We now have pledges from the commercial accounts in the six-figures, somewhere between $100 thousand and $200 thousand. Our goal for general memberships is $3o0 thousand. This translates to 3000 pledges of $100, held in escrow for up to 90 days and to be used towards co-op membership, or else returned.
Why would the money be returned? One, if someone else comes in and buys Waterfront Market. For instance, a Whole Foods-type operation, or an investment group interested in taking over Waterfront Market. There continues to be this kind of interest, though as of yet, this has amounted to little in the way of tangible offers.
Which why we pursue this dream. We are collecting money now to "fund the dream," as Alice Senturia excitedly described the process today.
Make no mistake. Money collected is towards our goal, and may be used towards memberships when it is clear that the co-op is launching, but otherwise will be returned. In the mean time, this is a genuine community trust.
The time has come for all of us to put our money where our mouth is.
So here it is. The goal is keeping Waterfront Market open. The steps of Waterfront Market on Friday morning at 11 AM is when and where all of us can continue to show our support, be it with our presence or our checkbook. I'll be there, the entire steering committee will be there, and the press will be there.
And I urge all in favor of keeping Waterfront Market open and the co-op model be there, as well.
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3 comments:
The mention made in this note of securing 3000 supporters at the suggested $100 level is Three HUNDRED Thousand, far greater than $30,000 as indicated. This would be fantastic, of course.
But check the math.
Thanks Anonymous! That was supposed to read 300, missed a "zero," and it is now adjusted. Good eye!
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