Tacoma Food Co-op to Move into Neighborhood Market on 6th

The Tacoma Food Co-Op (TFC), a non-profit whose mission is to provide fresh, local, natural and organic food to our community, is very close to actually having a physical store! After a series of meetings and negotiations going back many months, the TFC met today (March 23rd) with the current owner of the Neighborhood Market to sign off on an agreement that would put it in The Neighborhood Market’s location (6th and Junett) by May 1st for a maximum three-month transition period with a complete changeover no later than July 31st.

As recently as February 21 the TFC had 343 members and needed to push that number to 400 to raise the earnest money for the Neighborhood Market purchase. As of this morning the membership had grown to 490. Obviously Tacoma is ready for good, fresh, local food. TNT coverage here and Press release below:

bq. FOR IMMEDIATE RELEASE:
Contact: Corrinne Henderson, Board President
Email Address: tacomafoodcoop@gmail.com
Web site address: tacomafoodcoop.com
Tacoma Food Co-Op Is a Go: Deal Reached For Neighborhood Market Location

Following a successful February membership blitz and a tentative offer to purchase the Neighborhood Market in Tacoma’s 6th Avenue district, the Tacoma Food Co-op is officially moving forward.

Today, TFC delivered a letter of intent for the asset purchase and lease to John Loesch, owner of Neighborhood Market. TFC’s Board President, Corrinne Henderson, presented Loesch with $10,000 in earnest money and signed an agreement for TFC to lease the Neighborhood Market location and purchase the business with payments for the purchase deferred for two years.

“In addition to a favorable purchase agreement, we worked out an innovative deal to transition John’s inventory over a 60 day period that will allow us to open the store while slowly filling the shelves with co-op goods,” says Henderson. “It’s a win for both parties. John will be able to sell off his inventory while we gradually add products and get to know the store and customers.”

Though an intent to purchase agreement is in place, TFC still must raise the money needed to hire a general manager, complete minor modifications to the store, and begin purchasing inventory.

“We’ll still need to raise $300-400,000 to open the doors, but we’ve surveyed our members and feel confident we can do it,” says Henderson, “Neighborhood Market is a great opportunity and now that we’ve secured it, we hope we’ll attract an even larger wave of new members. We saw 170 new members last month alone! The momentum is incredible.”

With a location secured, the TFC board is beginning to prepare for a store opening. The organization has close to 500 members who will help identify the kinds of products to be sold in the store, and is now searching for experienced co-op general manager candidates. Resumes can be sent to krm403@gmail.com, and new members can sign up at Tacoma FoodCoop.com.

Tacoma Food Co-op seeks to open a cooperatively-run store providing local, fresh, natural and organic foods and increase the access to healthy food for everyone in the community.