RVM Coop plans to break ground in March!
(03/12/07) At last night’s member-owner meeting at the Haydenville Congregational Church, the River Valley Market Board announced they have closed on financing to build the River Valley Market cooperative, and will begin store construction this month!
Using a complex financing structure called New Market Tax Credits which involves a broad array of equity lenders (including River Valley Market member-owners) and a mortgage loan from the Bank of Western Massachusetts, they closed the financing on Friday, March 9th 2007.
“Congratulations to all, and thank you for your persistence and faith in this project. We look forward to shopping with you in our new, bright, green, state-of-the-art, locally produced, healthy and organic, community-owned store!” – The River Valley Market Board
What is River Valley Market?
- A food cooperative in Northampton!
- RVM is a consumer-cooperative formed to open and operate a retail grocery store specializing in fresh, local and organically grown foods.
- The co-op will be locating its store at 330 North King Street in Northampton.
- RVM is 100% Member-Owned.
- Everyone is welcome to join as a co-op Member-Owner!
- Visit them on-line at www.rivervalleymarket.coop.
How will the Co-op differ from a regular supermarket?
- The co-op is more than a grocery store, it is an entity committed to enriching our community, our local agriculture and businesses, our earthly environment and our shopper’s personal health. Cooperatives are unique because the same people own, control, and use them, through a shared system of member-ownership. This structure creates a local ownership system for sharing the control and wealth of the organization, based on the values and needs of the membership.
- Our co-op will specialize in locally produced, natural, and organic foods. It will also be built as an LEED certified Green building, with solar power, water reclamation, energy efficiency, daylighting, and more. Looking to the future, we aspire to be a vital part of a larger thriving agricultural center in the valley.
Cooperative Principles include:
- Voluntary and open membership
- Democratic member control
- Member economic participation
- Autonomy and independence
- Education, training, and information
- Cooperation among cooperatives
- Concern for community