The Lexington Co-op has announced that it is less than $100,000 away from securing its goal of $2 million. So far, the market has raised $1,905,000 towards its capital campaign goal, which would then allow The Co-op to move forward with its second location at 1678 Hertel Avenue. Now the final stretch begins – the community owned business has set its fundraising goal for October 15, 2015.
In order to reach that goal, as few as 18 investors, contributing an “average investment” is needed to wrap up the funding drive. Of course that would be an ideal scenario. According to The Co-Op, last week six investors came up with a total of $30K, which goes to show the financial commitment that is coming in from the community. A minimum of $2000 is required to invest in Preferred Shares. Annual dividends of up to 3-4% are earned each year.
Many of The Co-Op’s shoppers live in and around North Buffalo. The new store would offer a convenience for those shoppers who would no longer have to make the trip to Elmwood.
For more information, potential investors can call 716-886-1036 or email BIGDirection@lexington.coop.