Opponents say a 3-year debt of that size is too risky. But Seth Larsen with the Co-op says the store can handle the debt and still generate a positive cash flow.
"We think it’s the smartest way because this will be one solid loan. We’re projecting very conservative sales increases, even with new competition coming to town, to pay off this loan and we really plan to be able to pay this off much sooner than 30 years but it may take as long as 30 years."
Larsen says the proposed renovation would expand shelf space, eliminate bottlenecks and improve energy efficiency. Wednesday is the last day co-op members can vote. The results are expected on Monday.