The Merc Co+op to Extend Management Agreement with Unified Government through 2025
Our co-op's three year management agreement to operate our second location at 501 Minnesota Avenue in Kansas City, KS, began in July 2020 with a completion date of June 2023.
On Monday, November 7, 2022, Valerie Taylor and Jason Lovell, our co-op's Marketing and Financial Directors, respectively, presented to the Unified Government Economic Development Standing Committee to ask for a continuation of the agreement for an additional two years. A link to the video of that meeting is embedded below. Our co-op's section starts at the 35 minute mark followed by the commissioners' comments at the 53 minute mark.
Following the Economic Development Committee's meeting, our agreement extension was put before the full Unified Government Board of Commissioners at their November 17, 2022 meeting. We are pleased to share that the commissioners unanimously approved an extension to continue operations of the KCK store through June 2025.
This agreement includes a stabilization fund that provides the co-op with some financial support to offset the lack of development and foot traffic needed to help us reach our sales goals. Over these next two years, we will work diligently to make the store profitable with a focus on increasing customer count and average basket size as well as stabilizing our margins. If we are successful in these efforts, our co-op can consider long term operation (beyond 2025) within the KCK community.
For more information on our KCK store and partnership with the UG:
https://www.themerc.coop/expansion
https://www.wycokck.org/Departments/Economic-Development/Projects#section-5
Questions? Contact Valerie Taylor, Marketing Manager.