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8/13/2019 RCC Presentation to the City, January 22, 2014
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Renaissance Community Co A Community Owned Grocery Store
ComPeel Jan
8/13/2019 RCC Presentation to the City, January 22, 2014
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The VisionTo Build Community Health and Wealth
8/13/2019 RCC Presentation to the City, January 22, 2014
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What does Northeast Greensboro need?
A full service, co-op groceGreater economic opportun
Good jobs A way to circulate mo
this community
An opportunity for the peobuild the community they need
8/13/2019 RCC Presentation to the City, January 22, 2014
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Our grocery store will meet these needs by off
A wide range ofhealthy foods: Fresh fruits Vegetables Meats At affordable priceright in our neighbo
8/13/2019 RCC Presentation to the City, January 22, 2014
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Our grocery store will meet these needs by off
An attrac welcomistore thatcommundeserves
8/13/2019 RCC Presentation to the City, January 22, 2014
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Our grocery store will meet these needs by off
Decent jobs With good
benefits Filled by p
the comm
8/13/2019 RCC Presentation to the City, January 22, 2014
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Our grocery store will meet these needs by off
A store owthe comm with a mibuildingcommuni& wealth
8/13/2019 RCC Presentation to the City, January 22, 2014
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So, what could our co-op
grocery store look like?
8/13/2019 RCC Presentation to the City, January 22, 2014
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Our Full Service Community- Owned Grocery S
8/13/2019 RCC Presentation to the City, January 22, 2014
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8/13/2019 RCC Presentation to the City, January 22, 2014
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Well have a dairy section,
8/13/2019 RCC Presentation to the City, January 22, 2014
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well-stocked fresh meat department,
8/13/2019 RCC Presentation to the City, January 22, 2014
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fresh fruits,
8/13/2019 RCC Presentation to the City, January 22, 2014
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affordable vegetables
8/13/2019 RCC Presentation to the City, January 22, 2014
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will be plentiful.
8/13/2019 RCC Presentation to the City, January 22, 2014
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A wide variety of goods
8/13/2019 RCC Presentation to the City, January 22, 2014
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will meet the needs of its customers.
8/13/2019 RCC Presentation to the City, January 22, 2014
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We plan to include a deli department,
8/13/2019 RCC Presentation to the City, January 22, 2014
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bakery goods, made-to-order sandwiches
8/13/2019 RCC Presentation to the City, January 22, 2014
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ready-to-eat prepared foods,
8/13/2019 RCC Presentation to the City, January 22, 2014
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and hopefully a hot bar.
8/13/2019 RCC Presentation to the City, January 22, 2014
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Our store will be welcoming & responsive to
community needs & wants
8/13/2019 RCC Presentation to the City, January 22, 2014
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both inside
8/13/2019 RCC Presentation to the City, January 22, 2014
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and out.
8/13/2019 RCC Presentation to the City, January 22, 2014
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Its the members of the co -op who decide
8/13/2019 RCC Presentation to the City, January 22, 2014
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what types of foods,
8/13/2019 RCC Presentation to the City, January 22, 2014
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kinds of goods,
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and services the co-op should provide.
8/13/2019 RCC Presentation to the City, January 22, 2014
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Community OwnershipMeans more jobs, higher wages, better prices, st
8/13/2019 RCC Presentation to the City, January 22, 2014
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Our store will create jobs & Community Weal
Wi
Money put back intothe community
Jobs Created
Store will be profitable wi
The majority of the storesemployees will come from
Profits will be returned to The store will never leave to
make more money elsewhere.It will STAY in
This Community.
8/13/2019 RCC Presentation to the City, January 22, 2014
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Our store will create Community Health
Our Co-op Grocery Store Will stock healthy foods at prices people can afford Will become a gathering & teaching space for health edu Will be a welcoming, attractive heart of the community
8/13/2019 RCC Presentation to the City, January 22, 2014
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Community OwnershipMeans a true community renaissance
8/13/2019 RCC Presentation to the City, January 22, 2014
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How do we get there?The nuts and bolts
8/13/2019 RCC Presentation to the City, January 22, 2014
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What is a co-0p?
Definition: A business that is democratically owned andcontrolled for the benefit of its community members
Same as other businesses Different than other businesses
Must be based on sound
business practices
Traditional businesses solely
benefit stockholdersMust be profitable Co-ops serve their communitymembers
8/13/2019 RCC Presentation to the City, January 22, 2014
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Community OwnershipIt means were all responsible
8/13/2019 RCC Presentation to the City, January 22, 2014
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Membership in the Co-op
Membership gets: A say in the direction of the
store A vote on leadership of the
store A stake in your communitys
future
Anyone can shop at the co-op, but members aresomething special THEYRE OWNERS!
Theres no annual fee to joi One time, Lifetime memb
costs $100 Payable in monthly install
8/13/2019 RCC Presentation to the City, January 22, 2014
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Membership in the Co-op
We have a membership coordinator& a membership plan
As construction begins, weexpect membership to take off
We need 1,000 members
8/13/2019 RCC Presentation to the City, January 22, 2014
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The RCC will gross approximately $4 million/ Shown by independent market study & detailed
financial projections Each week, the neighborhood spends $1.34 mil dollars
on groceries The co-op needs less than 5% of those sales to succeed The store will be profitable within 5 years
8/13/2019 RCC Presentation to the City, January 22, 2014
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8/13/2019 RCC Presentation to the City, January 22, 2014
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Where will the money come from?Community $100k Co-op memberships (1000 @ $100)
$200k Loans from community members$15k Grassroots FundraisingFoundations $260k Grants ($95k received)Government $600k Greensboro Economic Development
$100k Greensboro Economic Development$200k Federal Grants (USDA, SBA, Block gran
Loans $125k CDFI & Cooperative Funding Sourc$50k Community Foundation Loan (recei
$1.65 Million Total
8/13/2019 RCC Presentation to the City, January 22, 2014
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Renting vs. Borrowing
Thats money we wonhave to borrow
So, reduced loanpayments mean we caafford the rent figuretheyve proposed
In exchange for a higher rent, Self Help will pay up to $350,00for improvements the space needs
8/13/2019 RCC Presentation to the City, January 22, 2014
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Can we do it? Yes! We have know-how, energy & commitment
In addition to: An engaged, talented board of 9 A full time staff member and an official office Technical support from experts in co-ops, community
organizing, finance, developing full-service grocery stores:- The Fund for Democratic Communities- Uplift Solutions- Self Help Ventures Fund & Healthy Food Initiative
8/13/2019 RCC Presentation to the City, January 22, 2014
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Look at what weve accomplished so far!
Hundredsof peopleattendingmonthlyRCCcommunitymeetings
8/13/2019 RCC Presentation to the City, January 22, 2014
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Look at what weve accomplished so far!
Consistentpositivemediacoverageand city-wrelationshi
8/13/2019 RCC Presentation to the City, January 22, 2014
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Look at what weve accomplished so far!
Already raised: $50,000 low-interest loan fro
CFGG $95,000 of grant support from
F4DC (in 2013-14) $43,500 from people interest
in making owner loans
8/13/2019 RCC Presentation to the City, January 22, 2014
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Whats the timeline?
It depends on: How quickly the City moves to sell the
shopping center How quickly construction proceeds and
whether there are hang-ups in therenovation process
Were preparing for a January opening
8/13/2019 RCC Presentation to the City, January 22, 2014
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Our Path Forward We need FAITH and YOU!
Were making great progress, but this is a communeffort, and we need investments of time and resources from
The City of Greensboro Folks in the community
8/13/2019 RCC Presentation to the City, January 22, 2014
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What the RCC needs from the City
A quick decision to sell the center to Self Help Theyre a proven community partner They support the co-op. It aligns with their mission & goals
Financial Support (for community benefit & jobs creatio
$100,000 Economic Development Grant $600,000 Economic Development Loan
8/13/2019 RCC Presentation to the City, January 22, 2014
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The RCC needs YOU!
Sign up for email updates Attend RCC Community
Meetings Become an RCC member Volunteer to help raise
money & membership
RCC
Get Updates
Become amember
Volunteer
8/13/2019 RCC Presentation to the City, January 22, 2014
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RCC Community Meeting6:30pmMonday, February 3at Presbyterian Church of the Cross1810 Phillips Avenue
8/13/2019 RCC Presentation to the City, January 22, 2014
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We Can Do This!
Email: [email protected] Web: renaissancecoop.com
Phone: 336-638-1722
Mail: PO Box 13531Greensboro, NC 27415
Office: 620 S. Elm Street #307Greensboro, NC 27406
mailto:[email protected]:[email protected]8/13/2019 RCC Presentation to the City, January 22, 2014
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Questions & Answers
