Report from the Board for February

Treasurers Report--Antoinette Hueber reported that there was not much activity in January. The board approved the report.

President’s Report: Wayne Metsch was pleased by the turnout at the annual meeting on Jan. 29 where there were many good questions and comments from the membership.

Finance: Barbara Higbee reported that TCFC may be eligible for the “New Market Tax Credits Program”. SEFCU has processed a line of credit for the Co-op to begin interior construction. This counts as part of the consortium loan program from area banks. The board moved and voted unanimously to approve this borrowing. Many thanks to Bob MacClasco for setting this up. The Co-op approved an application to National Grid for capital improvements. A concept letter has been sent to the Howard and Bush Foundation. The Troy Local Development Authority will receive an application from TCFC for a loan. The Member Loan Program was launched at the annual meeting on January 29. Member loan packages, including instructions for filling out information were finalized. Members of the Member Loan committee will make visits to possible lenders. The Member Loan Program will be put on the web site.

Membership: Mary Muller reported that there were 463 members as of 2/13/08. The Membership Committee met, stuffed envelopes and mailed out the ballots for the Board of Directors election and whether or not to increase membership/investments to $150 once the 500 member/investor level has been reached. On February 23 they will open ballots and announce results. New brochures will be produced. Mary Brand reported that letters will be sent to nine local social service agencies soliciting scholarship membership recipients.

Outreach: Stephannie Stoyle reported that the Outreach Committee will be focusing their energies on the Farmers Market and the Troy Film and Food Fest The next outreach meeting is scheduled for Feb. 25 at 62 2nd St. at 6:00 p.m. The next Farmers Market table is March 29, and volunteers are needed. Mary Muller and Alane Hohenberg will meet residents of Kennedy Towers on February 20 to brief them on the Co-op and distribute questionnaires.

Human resources: Mary Brand has been working on the GM search. The Board voted to offer the position of GM to an outstanding candidate. The General Manager will begin on March 3, part time, until we secure funding and contingent on a successful performance evaluation. The board voted to hire Apple Ahern of Cooperative Development Services to work further on finances with the GM and the board. The board has asked for a report detailing Apple’s meetings with the GM. The GM will prioritize the list of tasks to store opening. A local specialist in Coop financial systems, Stephen Vardin, will consult. An email address, gm@troyfoodcoop.com, will be established. Co-op member, Alicia Welch, will contact the press when there is a signed contract.

Building: Antoinette Hueber reported that the Building Committee has drawn up a RFP for architectural and engineering services. The City of Troy has agreed that the Co-op can use the parking lot on the corner of Fifth and Congress, across the alley from Famous Lunch. There are 30-some parking spaces with a two hour limit. In addition, signage directing to the Co-op will be installed. Conversations have been held with CDTA about plans to sell bus passes at the Co-op.

Next board meeting is Wed. March 12, at 6:00 p.m., location TBA, since the building may be under construction at that time.