Expansion Updates

Expansion Site Preparation Begins!

Posted by Bjorn Bergman on Jun 30, 2017 11:11:00 AM

Happy summer! We anticipate site preparation for our expansion to begin any day. It’s satisfying to have the past four years of gathering VFC owner feedback and planning for expansion turn the corner and have construction begin. In advance, we want to thank our owners and customers for gracefully putting up with any disruptions they experience while shopping at the Co-op in the next year. We know the end result, a larger Co-op that meets more of your needs, will be worth it!
 
On Thursday, Weiser Brothers, our general contractor for our expansion, dropped off the first load of equipment at the store. Weiser Brothers, which is based out of La Crescent, MN, led the original construction of our building at 609 N. Main Street in 2004-2005. We are ecstatic to work with them once again for this project.

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Tags: Local Events, Expansion, Capital Campaign

Financing the VFC Expansion Project Part 3: Sources

Posted by Charlene Elderkin on Jun 23, 2017 5:41:06 PM

Putting the Pieces Together

Part 1 and Part 2 of Financing the VFC Expansion focused on a more detailed explanation of the New Market Tax Credit (NMTC) and the CDI grant. This post will put those pieces together with other financing sources to give you the full picture of how the expansion is being financed.

An expansion project is a process, with many moving parts. Any lack of concrete information is not because the Board witholds information; it's that the information has been in motion. The Confidential Disclosure Statement for Class C Preferred Shares was finalized only days before the Capital Campaign Launch.

So now that the numbers are coming in, what are they?
Here is the proposed funding breakdown in percentages; if you are a VFC owner and want the actual numbers, contact VFC.

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Tags: Expansion, Capital Campaign

Financing the VFC Expansion Part 2: NMTC and LLC

Posted by Charlene Elderkin on Jun 21, 2017 4:09:45 PM


In a previous blog post, we mentioned that the Viroqua Food Co-op has applied for a U.S. Department of Treasury Community Development Financial Institutions Fund New Markets Tax Credit Program (NMTC) for the VFC expansion. The NMTC Program helps economically distressed communities attract private capital by providing investors with a Federal tax credit. Investments made through the NMTC Program are used to finance businesses, breathing new life into neglected, underserved low-income communities.

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Tags: Expansion

Class C Preferred Shares Now Available!

Posted by Shana Meshbesher on Jun 16, 2017 2:59:31 PM

It's official: we've opened up our Class C Stock (Series II & Series III) to our fully-invested VFC Owner Members who are also Wisconsin residents. Last night, we hosted a Capital Campaign Launch party at the Rooted Spoon in Viroqua and it was a success! Attendees learned more about investing in our expansion project from onsite experts (Cindy Hangartner, New Market Tax Credit Attorney; Eric Speck, VFC Finance Manager), discussed ideas with our Board of Directors, and also got to peek at our future floor plans with VFC Management.

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Tags: Expansion, Capital Campaign, Class C Preferred Shares

Together we grow!

Posted by Jan Rasikas, General Manager on Jun 8, 2017 7:00:00 AM

For 22 years the Viroqua Food Co+op has been growing, and for 22 years the community has grown with the Co-op. Our next phase of growth is right around the corner and we are confident that as we continue to support each other, together we will grow! We know our owners see the bigger picture of what the VFC expansion can do for the community. One of the many expansion amenities I want to highlight is a larger community gathering area with more seating inside and out.

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Tags: Expansion

Financing the VFC Expansion Project

Posted by Bjorn Bergman on Jun 2, 2017 7:00:00 AM

Community Development Investment Grant and New Markets Tax Credit 

With summer upon us, we are eager to start construction. The schedule has construction crews on the ground the week of June 25. We’ll keep you posted on our progress and hope to stay on track! 

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Tags: Expansion