We are excited to begin the process of issuing tax receipts in partnership with City of Nanaimo
Nanaimo City Council, meeting as the Audit and Finance Committee on Wednesday May 10, asked city staff to work quickly to establish a process whereby individuals and businesses that donate to the Island Roots Market Co-op's planned community market building at Beban Park will receive charitable donation receipts in return for their donations.
"This is a big boost to our fundraising efforts" says Larry Whaley, who is the volunteer president of the Island Roots Market Co-op. "It gives people who want to see an exciting, community gathering place with a focus on local food, good health and the rebuilding of the local food industry great way to contribute."
Until now supporters of the co-operative, a not-for-profit business that runs three Nanaimo farmers markets, have been able to buy shares in the co-op and make donations but they were not able to deduct their contributions from their income tax because the co-op does not have charitable status. "Council's decision means that, once details are worked out, people will be able to support this indoor/outdoor market by keeping their tax dollars at home and directing them to building our community's sustainability." says Whaley
The co-op plans to build a three part 18,000 square foot indoor/outdoor community market at Beban Park. The structure will consist of a three or four thousand square foot environmentally controlled core that will be home to four or five key vendors and a place for community connections, an unheated indoor market area of a similar size and a covered outdoor community market space about 10,000 square feet in size. The co-op hopes to complete the building, estimated to cost about two million dollars, by the end of 2018.
"Our fundraising is about to get serious and we still need to work out the details of the lease that City Council approved in principle last October but there is tremendous community support for the project and you will see a lot of activity this spring and summer."