January 15, 2008

Dear Co-op member,

Construction on the Downtown store was to move into full gear during the first week of 2008. The Co-op had planned to launch the owner bond drive today; we have chosen to postpone it.

It has recently come to our attention that the landlord and developer, Buckingham LLC, has not fulfilled certain obligations under the lease; therefore until those obligations are met, all construction and design work on the downtown site has stopped.

The Co-op is working with our legal counsel to determine our options under the lease, and potential next steps. Although we cannot speculate on the details, we expect that the delay in Buckingham LLC meeting its obligations will be resolved. At that point, we will resume construction and launch the bond drive.

We still remain very enthusiastic about the prospect of opening a second retail site at Metropolitan Place II. We look forward to announcing the relaunch of our owner bond drive.

Anya Firszt, General Manager
Williamson Street Grocery Co-op

WSGC contact information
or call 251-0884 x 730

Finance department
David Waisman, Director of Finance
Cindy Jones
Becca Schill

Please complete the request for information and you will be contacted directly to discuss the bond issue when construction resumes.