The Community Development Finance Authority (CDFA) approved a $500,000 Community Development Block Grant on June 23, 2011 for the Monadnock Community Market (MCM) Co-op, a critical piece for moving the MCM Co-op forward. The funds will be used by the Monadnock Economic Development Corporation (MEDC) to purchase fixtures and equipment for the market facility that it will build and lease to the MCM Co-op in downtown Keene.
“CDFA’s approval of the Community Development Block Grant is such an exciting and important step in our Co-op’s development. The timing on this is impeccable, as we are working to complete the last phase of our $800,000 Member Loan Campaign. We have over 710 member-owners, and $608,811 of loans from our members committed in just over 2 months. The momentum for our Co-op’s development has been incredible over the last six months, and the Block Grant just added to it,” said Bonnie Hudspeth, Project Manager of the MCM Co-op.
The MCM Co-op Board of Directors and Project Manager want to extend their gratitude to the City of Keene for its support of the project and its willingness to prepare the grant application and handle its administration on behalf of MEDC and the MCM Co-op. The grant contract still requires the approval of the Governor and Council, and is anticipated to be on the agenda of one of their August meetings.