Funding

The most challenging part of launching this project is finding the money to purchase the property. The campus itself is a very unusual property and our plans to utilize it are wildly outside the norms of real estate and small business financing opportunities. The founding organizers so far have about $1M to get the ball rolling, and we need your help to take the next steps. We are looking for people with skills and knowledge related to funding and financing to help organize this part of the project. Our final financial strategy might include some combination of government backed loans, lien or mortgage based financing, private loans and debt investment, investment for equity with buyback provisions, or other options we haven't heard of. Get in touch with us at finance@codwell.org if you have any information or recommendations to share on this topic, including if you just want to help us get our projections and pitch into a format more digestible by lenders and investors.

Projections

Starting with 20 members and growing toward 80 members (50-80% capacity) at the end of year two, we expect to break even on operating revenue and expenses at the end of year two. We project $30k/mo net income from the end of year three, rising to $70k/mo at the end of year five and onward. This will be split between improvements to the property, fulfilling the needs and desires of the members above and beyond baseline operations and maintenance, and reducing our mortgage and lender debt ahead of schedule.

Grants / Government

This project is likely to qualify for numerous grants, subsidies, and other considerations from various private organizations and government entities. The areas we are considering qualify as Rural Development for various USDA programs. Both the State and the Federal Government offer many guaranteed or subsidized loan products to small businesses.

All of the above, and likely much more, is an arena in which we are seeking assistance. If you are an experienced grant writer, are familiar with navigating government loan programs, or have skills or knowledge anywhere tangentially related to those topics, we'd love to hear from you. There is some budget for this work up front, and opportunity for equity depending on the eventual organizational structure of the purchase.

Crowd Approaches

Our first attempt at a crowd investing campaign raised about $20k. Not enough to tip the scales on the purchase in 2021, but a good indicator that there is interest in this approach. Another round of crowd funding and/or crowd investing could make a difference this time, and would do better with some experienced hands on the wheel and along the way.