A General Contractor!
With immense gratitude, the board is pleased to announce we have achieved the next critical stage of re-opening: a general contractor (GC) has been selected to complete renovation efforts! We have found a committed partner in Primo, a company that passionately believes in rehabilitation and will begin work in the next several weeks. With the instrumental support we have received from Co-op alumni and NASCO, we have successfully refinanced and closed the UMFREA account that was used to finance the stucco in 2018. Both of these steps represent major progress in the revitalization of the Students’ Co-operative!
Current Updates to the House
In the 2010s era, external updates were done on the windows, extension and stucco. The current renovation focuses on the internal structure, including: repairing critical joists in the first floor, updating the rooms and halls for a seamless aesthetic, improving fire responsiveness, repairing damage to windows, redoing plumbing, repairing the roof, refinishing floors to retain their lived-in appearance, widening the doors for maximum accessibility, and providing several new rooms for the next generations of co-opers.
During summer and fall 2022, the alumni board evaluated several GCs with the guidance of NASCO’s Development Consultant and secured loans through Kagawa and Shared Capital. We undertook a community effort to raise the funds needed to secure the GC chosen by the board, and exceeded our fundraising goal of approximately $16,000. Since this fundraising effort, several large expenses have compromised our ability to move forward, including a large utility bill related to an emergency boiler repair, as well as unforeseen legal fees needed to close the UMFREA loan. We are now $20,000 short of the liquidity we need to bridge the funding gap until construction loan disbursement, slated for mid-February.
Current Need for Emergency Donations
We have several options available if you are able to support further with funding donations, including a tax deductible option supported by GiveMN. If you are open to this form of support, please let us know!
Upcoming Work Weekends
If you are available for a work weekend or two to paint rooms etc., please let us know! Thank you all once again for all you have been doing to revitalize the Co-op. We could never have gotten to this exciting milestone without each and every co-oper, and our friends. We are on track to reopen later this year, with fresh updates to the building and a bold vision for equitable governance and membership criteria.