Membership to decide next step for Kootenay Co-op Monday at Best Western Baker Street Inn special general meeting
Kootenay Co-op members have an opportunity voice their opinion over the purchase of the Extra Foods building during a special general meeting Monday at the Best Western Baker Street Inn.
The meeting begins at 7 p.m.
“The meeting is to get approval from the membership for the Co-op to spend more than 75 per cent of the cash reserves to purchase the Extra Foods building,” Colin Legg, speaking on behalf of the Kootenay Co-op, told The Nelson Daily Thursday.
The local cooperative has entered into a contract to purchase the building at 708 Vernon Street from the Howes Family Business.
The possession date is June 1, 2012.
The current lease agreement between the owners of Extra Foods and the Howes Family Business expires May 31, 2012.
Legg said after an hour of discussing agenda items, the vote on the special resolution should take place at approximately 8 p.m.
“The tone around the store is one of excitement,” Legg said when asked about the mood of the membership since the original announcement was made in February.
The Kootenay Co-op has approximately 10,000 members, although Legg said not all are active.
“This is just the very beginning of the whole process,” Legg explained. “There will be plenty of opportunity along the way for people to add their input.”
The current location on Baker Street for the Co-op is 7200 square feet with 4800 square feet used for retail.
The Howes Family Business building is 18,500 square feet.