October 16, 2024                                                                                                            

 

ANNOUNCEMENT: STRAFFORD COMMUNITY TRUST REACHES  AGREEMENT WITH COBURN FAMILY TO BUY COBURN’S STORE; LAUNCHES FUNDRAISING DRIVE AND SEARCH FOR NEW OWNER-OPERATOR  

                        

The Strafford Community Trust is very pleased to announce that it has agreed with the Coburn family on the basic terms for an option to purchase the Coburn’s property and store. The option agreement  gives the Trust six months to buy the property and store. During this period the Coburns will continue to operate the store as always. 

 

The Trust will now pursue three important undertakings. First, the effort to secure the funds needed for the purchase and for initial repairs of the premises will move forward. The Trust board expresses our great admiration for the generous and foresighted citizens who have already expressed their support. We know there are many others who will want to help in the effort to protect this vital and historic center of our community and we encourage you to give here. 

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Second, the Trust is now beginning to search for an enterprising new owner-operator for the store. Our plan is to own and manage the historic property, but not to own or operate the store. Our goal is to lease the premises on favorable terms to a new owner-operator.

 

To that end, we now invite private conversations with potentially interested parties. This might include an individual or family proprietorship, a local partnership, a local corporation, or a local co-op dedicated to owning and running the store. We're open to your ideas! To initiate a conversation, interest can be expressed to Trust president Trudi Brock or, indeed, to any of the Trust board members. We will endeavor to keep conversations confidential. We encourage early expressions of interest! Preliminary or uncertain interest is welcomed.

 

Our third undertaking will be to celebrate the remarkable contributions the Coburns family and their store have made to our town. For 47  years they have embraced our community, and now is the occasion for us to return that hug.

 

The Strafford Community Trust is a charitable organization incorporated under Vermont law. The Trust will apply to the Internal Revenue Service for tax exempt, tax deductibility status under section 501(c)(3) of the Internal Revenue Code. Pending IRS action, the Preservation Trust of Vermont, a 501(c)(3) group, will act as fiscal agent for the Trust. Gifts to support the purchase of Coburns' can be arranged through the PTV. The Trust is an equal opportunity organization.

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The members of the Strafford Community Trust Board are:

 

Trudi Brock- Board President (trudi@straffordcommunitytrust.org)

Gus Speth (gus@straffordcommunitytrust.org)

Rebecca Seibel (rebecca@straffordcommunitytrust.org)

Bob Cowden (bob@straffordcommunitytrust.org)

Rosi Kerr (rosi@straffordcommunitytrust.org)

Lauri Berkenkamp (lauri@straffordcommunitytrust.org)

Annie Penfield (annie@straffordcommunitytrust.org)

Willis Phelps (willis@straffordcommunitytrust.org)