LONG TIME IN THE MAKING >>>

In what will come as joyous news to all followers and supporters of the upstart Tacoma Food Co-op's attempts to secure a permanent storefront location, the TFC announced today via official press release that they've reached a lease agreement with Neighborhood Market (3002 Sixth Ave.) owner John Loesch. The Tacoma Food Co-op's next challenge will be raising the $300-$400,000 needed to actually open the doors.

No word yet on when the Tacoma Food Co-op's new physical locale plans to open.

The official press release is below ...

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 TacomaFoodCoop.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.###