The Time-line

Due to recent developments, our project time-line has been pushed back one year. Our best approximation of a project time-line follows:

  • Spring 2006 - Complete renovation of the cafe

For up-dates on the project time-line, contact us and get put on our news list.

How Will the Project Be Funded?

As an incorporated non-profit worker cooperative, Sky Dragon will rely on several sources for start-up funding. These sources include member-worker investment, community investment and donations, government funding, and foundation grants. One way in which community members can invest in the Sky Dragon project and contribute to their city's progressive transformation is to purchase a Community Bond.

Community Bonds - Investing in Your City's Future

The Sky Dragon project will require several different funding sources in order to be realized. One of our most important sources of project capital will come from community members who support the project's goals and who want to purchase equity in Sky Dragon - in effect to own a piece of the new centre. To this end, the Co-operative is selling investment bonds. The bonds are unsecured investments that pay 2% interest and mature in three years. Bonds are valued at $1000 each, with all money raised thereby going directly to the purchase and renovation of a building to house the new centre. Several people can combine to purchase one Community Bond.

How do You Purchase a Community Bond?

We have posted an investment prospectus on the web-site. This prospectus gives in-depth information on the project, its financial projections, its expected sources of funding, and the nature of the investment. To obtain a print copy of the prospectus or to get more information about the Community Bonds, please contact us! Otherwise, you can click here to see the prospectus on-line.

Long-Term Sustainability

Once the centre is established, it will sustain itself with revenues generated through housing rents, wellness classes, office and meeting space rental, and the cafe. From our projections, the centre will be able to sustain itself comfortably through rents and will not have to rely on the cafe's success to be financially viable. In our financial projections, we have forecasted a marginal loss in the first year of operation, with increasing surplusses in subsequent years. These surplusses will first be used to pay off the corporation's debt. After all debt has been cleared, surplus revenue will be placed in a project development fund to be used to seed additional cooperative and non-profit development initiatives.

Other Ways to Show Your Support

There are many ways you can support the centre without helping to finance it. For starters, tell people you know about the project. If you are interested in helping out with the building conversion, contact us and we will keep you posted as the plan develops. If you are a member of a community organization that might want to become a community partner of the Co-operative, please get in touch. When the centre is functional, come down for a meal, a class, a special event, or just to enjoy a cup of fair-trade coffee and tour the roof-top gardens. This is YOUR centre - we'd love for you to get involved

 



 


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