Morrisville Food Co-op Annual Meeting

Join us Wednesday, November 4 at 5pm for the Co-op’s Annual Meeting. We’ll gather at the Wing Center on Main Street in Morrisville.

Our Agenda:
Welcome
Approval of 2025 Meeting Minutes
Board Report (Powerpoint presentation at this link)
Ballot Items & Voting
Member vote regarding the formation of LLC and
Acquisition of 46 Pleasant Street
Board Nominees
Round It Up for Change Nominees
Financial Report
Store Operations Report
Closing

Please R.S.V.P. by November 3 so we may plan the refreshments..

RESOLUTION OF THE MEMBERS
OF MORRISVILLE FOOD COOP

Formation of LLC and Acquisition of 46 Pleasant Street

Background

The Board of Directors of Morrisville Food Coop recommends that the Cooperative acquire the property located at 46 Pleasant Street in Morrisville, Vermont. Over the past two years, it has reviewed alternative options for local retail space, performed a variety of cost and financial calculations, and consulted extensively with the current building owners, Robert and Susan Titterton.

We are grateful to the Tittertons for the opportunity to purchase the building on terms that the Co-op can afford.

The property includes a mixed-use building with one retail commercial unit, where the Cooperative currently operates a store, and four residential apartments. Its value is $860,000-$925,000 according to appraisals commissioned by the Coop Board of Directors in 2025 and the Tittertons in 2024.

The proposed purchase price of the property is $605,000. The Board proposes to finance the purchase through a seller loan in the amount of $605,000. The loan is proposed to be repaid monthly with a maturity date fifteen years after closing. The loan is anticipated to have an interest rate set at the minimum applicable federal rate as of the date of closing, with interest compounding monthly.

The Board proposes forming a subsidiary limited liability company, with the Cooperative as the sole member, for purposes of acquiring and managing the property. The Board plans to close on the acquisition on December 18, 2026.

Please refer to the Background Memo and Financial Position documents (links below) for further information on the context for the sale.

Background re Building Purchase (Click on this link)
Financial Position Supporting Acquisition of Building (Click on this link)

The following resolutions shall be approved by the Members of the Cooperative:

1. The formation of the subsidiary LLC, with the Cooperative as its sole member, is authorized, approved, and ratified.

2. The subsidiary LLC is authorized to acquire the property at 46 Pleasant Street and to finance the acquisition through a loan from the seller in the amount of up to $605,000.

Learn about our Board Nominees here (click on this link).
We have five candidates for our four 3-year term open board seats
We have one candidate for our 1-year term open board seat

Learn about our Round It Up for Change (RIUFC) Nominees here (click on this link).
RIUFC gives shoppers the opportunity to round up their total at the register to the nearest dollar and give the difference to a local non-profit pre-selected by Member-Owners. Lamoille County nonprofits are invited to apply to become recipients of funds collected through this program.
Member-Owners will vote for six (6) of the nonprofit nominees to become RIUFC recipients.

Annual Report

The Co-op publishes an Annual Report in addition to holding the Annual Meeting.

Annual Meeting Minutes

Annual Meeting 2025

The Annual Meeting is an opportunity for member-owners to meet board candidates and hold elections, hear reports on operations and finances, and select the next year’s recipients in the Round It Up For Change program. It is a great way to take stock of the Co-op’s progress and help shape future plans.

If you are interested in serving on the Co-op’s Board of Directors, please see the information on our Board Meetings page.