Apple Street Market officially became an owner in Associated Wholesale Grocers (AWG) and has made progress on funding for acquiring the site for Apple Street Market.
Apple Street Market made our relationship with AWG official. AWG is the nation's largest supplier of wholesale food to independently-owned grocery stores, and they are unique in that they are a cooperative food wholesaler—that is, the stores AWG wholesales to are owners of AWG. Because AWG is a retailer-owned cooperative, not only do they provide stores like Apple Street with the lowest cost of goods every day, but Apple Street also gets a share of their profits.
The City's Economic Development and Law Departments have drafted a funding agreement for the acquisition and remediation of 4145 Apple Street by Northsiders Engaged in Sustainable Transformation (NEST), our Northside nonprofit developer. We expect to hear any day now that the city has also provided NEST with a promissory note for the acquisition and remediation of our future home! Meanwhile we're finalizing our plans for the teaching kitchen and store equipment, so we're ready to go once NEST gets site control. Our bid date is determined by how fast the building gets transferred to NEST and how fast the New Market Tax Credits are distributed.
