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, MINUTES OF THE <br /> ORONO PLANI�TING COMNIISSION MEETING <br /> � Monday,Apri116,2007 . . . <br /> 6:00 o'clock p.m. � <br /> (#07-3278 John Terrance Homes, Continued) <br /> . � communities are irying to bring back that local feel to their communities. Krokzyk stated another <br /> � important aspect to the food co-op is the ability for the residents to eat locally grown produce and <br /> products. Harvest Moon would provide a healthy food option and would be pedestrian and vehicle <br /> accessed. . � � � <br /> Molten stated food co-ops have been in existence for a number of years and the Twin Cities are home to <br /> many successful food co-ops. This part of the western suburbs is lacking a food co-op but has a natural <br /> - affinity to local producers,farmers, schools,and other groups in the neighborhood. By de�nition food <br /> co-ops operate by a set of principles which include a concern for community,education and � <br /> � information,and open and voluntary membership. . <br /> Kari Smith addressed the Planning Commission regarding the membership of Harvest Moon. The co-op <br /> applied for and received a$10,000 matching grant,which allowed Harvest Moon to conduct a <br /> feasibility stud. This feasibility study has demonstrated that this area is ideal for a food co-op. Harvest <br /> Moon has spent the last year developing strong relationships with the local businesses and farmers in the <br /> community and they developed relationships with all the other co-ops within the state to learn and grow. <br /> Harvest Moon has applied for the matching$25,000 Sprout loan,which would allow them to take the <br /> next steps forward in this process. <br /> Smith indicated they have the support of a number of professionals on this project and that they now <br /> have a website as well as a recently developed newsletter. A membership drive was launched in <br /> December and to date they have 175 household members. By this time next year it is expected Harvest <br /> • Moon will have appro.ximately 800 members. <br /> John Jaffrey stated the equity of the co-op comes from member equiiy and that at the present time they <br /> do not have fonnal financing in place. Jaffrey stated they are developing a business model and are . <br /> looking at getting third party confirmation of the co-op's performance and financial structure. Jaffrey <br /> stated they will require credit to underwrite the facility and that they are looking at building this <br /> . � business around a capital structure that makes sense and is economically viable. <br /> Krokzyk stated they have compared Harvest Moon's performas with Lakewinds and Just Foods, and <br /> that comparison should be completed in the next two weeks. That comparison report has been tumed <br /> over to another expert to look at their numbers and that they hope to have.the results of that study in the , <br /> � next week. � <br /> Krokyzk stated the Planning Commissioners should have received a copy of the site comparison report <br /> and commented that considerable research and thought have been given to other locations but that the <br /> Willow and Highway 12 corner offers a section of retail where two cities come together,is very <br /> pedestrian friendly, and has high density housing located nearby as well as a school. This location <br /> would allow them to build the ideal building,built and owned by area families and individuals. <br /> Krokyzk stated the food co-op is more than just a grocery story and a retail location,but rather a chance <br /> for the citizens of this community to work together to create an asset that seeks to connect and engage <br /> all the various segments of the two cities. As a business,Harvest Moon would be remiss if they did not <br /> seek to find the best location, and as a community we would be remiss not to do the same. <br /> PAGE 21 <br />