An update from GM and Board of Directors

The Lawrence Store Renovations Continue!

Rita York Hennecke, General Manager

We are all relieved to have completed Phase One of the Lawrence store remodel before the holidays. Thank you so much to all of our shoppers and staff for your patience getting through this phase. We've heard positive feedback from shoppers regarding the expansion of our sales floor, seating area and restrooms as well as the bright new colors and flooring.

Phase Two will begin next month with a refresh of our checkout area. The existing full service lanes (circa 2001) will be replaced with fresh and sleek check stands and they will be oriented north and south (instead of east and west) to reduce congestion and improve the checkout experience.

Plans are coming together for the biggest phase of all, which I am now calling Phase Three. This is when we will replace our refrigeration rack and resetting the store to bring you more produce, refrigerated and frozen offerings.

The cost of equipment and labor has come in much higher than originally budgeted. In order to complete this phase of the project, we need to take out a loan from the bank. That is where the Board of Directors come in. One of our co-op's governing policies, "EL Financial Stability," requires the GM to gain board approval before taking on debt for the co-op. The board held a special meeting on January 23, 2022 to vote on the GM's proposal.

The general manager shall not allow financial conditions that do not ensure the cooperative’s long-term financial stability.
Accordingly, the general manager shall neither cause nor allow:
● EL4.1 the cooperative to incur indebtedness other than trade payables incurred in the ordinary course of doing business and/or leases for equipment required in the ordinary course of doing business.
● EL4.2 the organization to be unprepared for short-term financial hardships.
● EL4.3 payroll, debts, and taxes to be paid late.

Special Meeting Board Report

Mark Sprague, Board Member

The Board of Directors met Monday evening, January 23, to review plans to replace the master refrigerated rack and purchase new refrigerated displays. This work was to begin after the holidays as the second phase of remodeling approved at that time.

Costs of the equipment and installation have gone up almost 37%, so General Manager, Rita York Hennecke, asked the board to approve going forward with the project.

Jason Lovell reviewed financing options. In recognizing that the co-op's debt level is very low since we now own the building our Lawrence store is located within, we have much more flexibility.

Finally a motion was passed to approve updated parameters for the loan so Rita can begin the process of purchasing the equipment and hiring the installing firm.