Co-op continues to enjoy financial growth
Board Meeting highlights
from May, June and July
Sales for May totaled $2,228,757, which
represents an increase of 6.42%. Customer
counts were up 5.47% from last year.
- In June, sales totaled $2,064,347, an
increase of 4.13% from this time last year.
Customer counts were up about 5%.
- Sales were even better in July—
$2,649,514—up almost 9% from last year.
Customer counts were up almost 4%.
As with most major projects, we’ve
experienced a slight delay in when we expect
to start construction and open the relocated
store. Part of the reason is that we are working
closely with SMUD to make the building
as energy efficient as possible. Our plans call
for employing state-of-the-art sustainability
practices, possibly including a natural
ventilation system, to reduce our energy costs.
As a result, we are now expecting to open in
early 2015, pending approvals from the city.
The Board has also authorized the extension
of our lease at our current location in the
event there are additional delays.
Co-op to Launch
Preferred Shares Offering
The Co-op Board plans to announce
the first sale of Preferred Shares in the
next few months. These nonvoting shares
will allow you to invest more in our Coop,
receive a much higher rate of return
than local lending institutions, and help
finance our new store. Our application is
pending at the California Department of
Corporations. Look for more information
New Board Director
Last June, Joel Erb was appointed by
the Co-op Board to fill the seat vacated
by Andrenna Taylor who resigned from
the Co-op Board after relocating out of
the area. Joel Erb is an attorney raised in
Davis and Sacramento and educated at
UC Berkeley and Harvard, whose practice
primarily focuses on property and business
transactions. His clients include vendors
and producers of sustainable local foods and
wines, and his long personal commitment
to the Co-op and the importance of
producing and eating quality food led him
to seeking appointment to the board. We
welcome Joel’s service and wish Andrenna
all the best in her new home.
The Board’s Policy Committee is
ascertaining the feasibility of online voting
in member elections. If you have thoughts
or feedback on Electronic Voting in Coop
elections, please contact me using the
contact form on the Co-op’s website here and select Michelle Reynolds from the pulldown menu. My contact information is also
available at the Customer Service Desk.
Engage with your Board
The Co-op Board’s business meetings
are held on the first Tuesday of every month
at 6 pm in the Community Learning
Center & Cooking School at 1914
Alhambra Boulevard, adjacent to the Co-op
store. Come out to observe your Board
discussing the important business of the
store. Additionally, the Co-op Board hears
concerns and solicits input from members at
our Quarterly Meetings. This fall’s Quarterly
Meeting will be held at 7 p.m. Tuesday,
December 4 immediately following the
Board meeting. The Co-op Board is also
posting meeting and contact information
above the microwave in the deli area.
—Submitted by Michelle Reynolds,
Co-op Board Secretary
Please note: This report is a summary
and does not reflect full details of everything
that occurred at the Board meetings. Complete
minutes are approved by the Board at the
following month’s meeting and are subsequently
available to owners in the “Owner Information
Binder” at the Customer Service Desk, as well
as online here.