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Community Investment Co-op Webinar - Shared screen with speaker view
Dan Nordley
18:10
Hey there all, Dan from Triangle Park Creative, CDS news letter guy, here.
Derek Jones
18:13
Derek L. Jones, Public Private Partnerships Branch, Rural Business and Cooperative Services, Washington, DC.
Jeff Hudson
19:05
Partnerships Branch, Rural Business and Cooperative Services located in Wisconsin
Landra Siegfried
22:56
Landra Siegfried, Public Private Partnerships Branch, Rural Business & Cooperative Services, Alabama
Ken Linge
23:52
Ken Linge, ED of the National Coalition for Community Capital (NC3) and member of multiple co-ops, including the Vermont Real Estate Co-op.
Cynthia Houlden
24:04
I work with Charlotte - VERY excited about the road map.
Terry Lewis
24:34
We are thinking about establishing a RE fund in Detroit
Davey Madison
24:35
currently working with 3 groups that are forming investing co-ops.
Shannon Laing
24:47
Although familiar with the project in Minneapolis, I want to hear a deeper dive as a potential development tool in our rapidly developing neighborhood.
Tracy McIntyre
24:49
Tracy McIntyre, ED of Montana Cooperative Development Center- we are working with a number of communities on investing cooperative and we are super excited to learn more about what you all are doing and where we can grow our program!
Ben Sandel
24:57
I’m interested in learning about REICs so I can help start one in a neighborhood in my community.
James Wadsworth
24:58
Jim Wadsworth, Cooperative Services Branch, USDA Rural Development.
Jose Luis Rojas
25:04
At LEAF we provide financing and TA to housing coops, food coops and worker coops. Our work has also included working with land trust. www.leaffund.org
Dorian Gregory
25:33
Dorian Gregory, Cooperative Fund of New England, excited to learn more about Real Estate Investment Co-ops for local community in western MA and to support our lending to such co-ops throughout the northeast. We also lend to food co-ops, housing, land trusts, and worker-owned businesses.
Erin Higginbotham
25:41
Co-founder of The DEEP Grocery Co-op. Always super interested in hearing stories of how coops grow as I am doing the same with mine. Specifically really curious to learn about funding
Helena Cragg
25:43
Helena Cragg, ED of Golden Girlz NC in Durham NC. Looking to create an Intentional Community and curious about various legal structures to hold property to keep it permanently affordable
Robert Karp
26:15
I work for Thoreau College in Viroqua, WI and am interested in the possibility of starting an investment coop to hold farmland and real estate in the driftless region. I cannot stay on for the whole call today, sorry.
Margaret Bau
26:28
Will you share an update about the investment co-op in Sangudo, Alberta? Thanks!
Seth Nowak
26:30
Seth Nowak, Rejenerate Housing Cooperative, and also savethefarm.net project to acquire the Voit family farm property in Madison, WI
Jamie Webb
26:45
Jamie Webb, Assistant Planner for the City of Easthampton, MA
Nora Gosselin
27:27
Nora Gosselin, the Cooperative Development Institute, work w manufactured housing co-ops in MA
Charlotte Narjes
29:16
Thank you for introducing yourselves in the chat. Please share what motivated you to join today’s session as well if you have specific questions.
trav (VREC, he/him)
29:40
funny, our first project is renting to a cooperative brewery as well
Nicole LaChapelle
30:10
Looking for affordable housing solutions for a city of 16k with little developable land for traditional affordable housing - the existing programs and process is long & does not serve our need (even tho we have been trying - we watching housing costs INCREASE & have no viable strategy for equity)
Nicole LaChapelle
30:57
Easthampton has a consumer co-op grocery store as well as worker co-ops
Matthew Epperson
33:24
Matthew Epperson, Savvy Co-op and Founder at Georgia Cooperative Development Center, Athens, GA. Helping two investment co-ops in Georgia right now. Curious about best practices for dealing with land or real estate brokers to identify opportunities that work for members and are patient enough to allow community capital to buy in
Ixchel Mckinnie
39:15
Are you aware of any BIPOC Investment Cooperatives to help recoup lost wealth and property?
Thomas Beckett
45:02
Need lawyers and accountants!
Thomas Beckett
46:24
@ixchel - The East Bay project that Leslie mentioned is a good example of that.
Thomas Beckett
46:25
https://ebprec.org/
Margaret Bau
57:05
Or having a part time paid organizer to take care of administrative tasks and communication. That person could work for a local organization.
Thomas Beckett
01:02:45
Will you make this template available to us?
Charlotte Narjes
01:03:38
Yes, we will. Thanks for asking Thomas.
Dorian Gregory, Coop Fund of New England
01:08:37
Co-op Friendly financing resources: www.cooperativefund.org in New England. Also www.leaffund.org, and nationally www.sharedcapital.coop, are a few.
Charlotte Narjes
01:09:10
Thank you for sharing resources Dorian.
Terry Lewis
01:09:30
Do not move very far into construction w/o locking down tenants! Nothing eats a budget worse than vacancy!!!!
Angela DeFelice
01:09:42
https://seedcommons.org/ is starting to lend for real estate now too.
Margaret Bau
01:10:00
Could you talk about if you live in a state with lousy co-op statutes. How can you do a real estate investment co-op? Incorporate in another state?
Benjamin Tsai
01:11:01
I have been contacted by a city that has an opportunity to buy a commercial property directly, in order to start a business incubator. They want to eventually sell it into community ownership via a land trust or cooperative. Do you have any examples along these lines that I can share with them?
Terry Lewis
01:11:50
As a Michigan lawyer, Margaret, I cope with lousy coop statutes by using other corporate or LLC law and operating on a cooperative basis for the purposes of the IRS. Works just fine!!
Margaret Bau
01:12:18
Thanks Terry!
Margaret Bau
01:13:00
Thomas Beckett - how would you incorporate a real estate co-op in North Carolina?
Esther West
01:14:05
Benjamin - Walnut Way in Cincinnati / the Xavier Community Wealth Building Institute may be good to talk with - they partnered some with Community Blend Co-op in Cincinnati when it was opne, and are engaged with the neighborhood... I can e-mail more details if you like, but their site is https://www.walnutway.org/
Ixchel Mckinnie
01:14:58
Amazing. Thanks for you work on this. I look forward to seeing thing the site.
Esther West
01:15:08
Also LCDC https://lcdc.net/lcdc-co-op/ in Chicago may have experience (these are both neighborhood - level)
Caitlin Waddick (VREC, she/her)
01:16:25
Foe family farms… The Agrarian Trust! Form an Agrarian Commons
Caitlin Waddick (VREC, she/her)
01:16:56
https://agrariantrust.org/
Nicole LaChapelle
01:16:59
This has been so informational - very glad to have joined!
Avery Ebron
01:20:08
https://www.groundcover.us/pilot-project
Dorian Gregory, Coop Fund of New England
01:21:05
Often the local banks partner with the co-op friendly CDFIs to learn more about the Co-op model...we all partner well together
Caitlin Waddick (VREC, she/her)
01:22:54
Vermont Real Estate Cooperative. https://vrec.coop/a cooperative business formed by Vermont residents to own and run commercial and residential property.We will update our website this summer.We are a new group.Many of our members are also part of tye Vermont Solidarity Investment Club.
Paul Schechter
01:22:56
I've got a bit of a varsity-level question, if I could be added to the queue.
Margaret Bau
01:23:16
What is 277 Terry?
Charlotte Narjes
01:23:40
Paul - I think I have a touched on other questions….I will call on you next…
Thomas Beckett
01:24:34
THUNDEROUS APPLAUSE FOR TERRY!!!
Caitlin Waddick (VREC, she/her)
01:25:10
VREC — rhymes with Shrek — started by raising funds to buy a building. We did. We are trying now to do the organizing and planning and strategizing. We need to create all that structure in the presentation.
Charlotte Narjes
01:25:48
Benjamin - I see I missed your question ….will make sure asked.
Terry Lewis
01:29:23
Land Lease!
Avery Ebron
01:29:54
Community investment trust
Paul Schechter
01:30:36
paul@sunnysidedevelopment.org
Paul Schechter
01:31:29
Article about the community purchase of the farm, that was published yesterday: https://civileats.com/2021/05/12/the-race-to-transform-a-wisconsin-farm-into-a-justice-focused-agrihood/
Benjamin Tsai
01:31:44
Cool, thanks everyone!
Avery Ebron
01:31:45
http://investcit.com/
Caitlin Waddick (VREC, she/her)
01:31:45
How might we hear about future events like this one?
Avery Ebron
01:32:36
http://investcit.com/Content/resources/EPCIT%20Case%20Study%20MC%20White%20Paper%20Updated%20073120.pdf
Avery Ebron
01:33:49
Case study for Community Trust
Dorian Gregory, Coop Fund of New England
01:34:00
Thank you Leslie and Charlotte - great presentation, and I look forward to more!
Sandra McCardell
01:34:23
Thanks to everyone; this was very helpful in many ways
Caitlin Waddick (VREC, she/her)
01:35:01
Thank you !! <3 <3 <3