In the last few months, we have finalized our detailed agreements with Soventix on how we will work together to build the project. Basically they handle the construction details, and we handle the selling of community bonds to finance the project, with a target of 2018 construction. The good news is that Soventix will cover any shortfall in our financing, so there is no doubt that the project will happen.
We have also submitted funding applications to various programs to help with the cost of developing and selling those community bonds. We are expecting to start selling them this fall, and are excited to see the response from the community. With a strong rate of return, a smart marketing campaign, and a project manager and staff person hired to do the legwork, we are confident the resources are in place for success.
To that end, we are finalizing a deal with reThink Green, Sudbury’s local environmental network, to act as our project manager. They are a great fit, being as passionate about the environmental health of the community as our co-op is, and having experience managing projects on behalf of other environmental organizations in the city over the years.
Thanks for all your support so far! We are just finally getting to the fun part of community financing and actually building, so let us know if you’d like to get involved. For example by joining the board, or offering to host lunch and learn workshops on the community bonds at your workplace or organization in the fall.
SUN Co-operative Board Members:
Arik Theijsmeijer, Bob Jeffery, Len Wiseman, & John Caruso