AGENDA:

1. Consider and ratify consensus reached at annual meeting April 2008, where remaining elected Board members were instructed to

(a) identify prospective buyers for PIFC/DFC’s building

(b) seek a secured bridge loan to pay long-term debts, vendors, etc.

(c) appoint additional interim Board members

(d) determine how, assuming sufficient member interest, to proceed with reverting to a buying club business model

2. The Board, having reached consensus that the Co-op cannot realistically continue to operate the existing store and service the existing debts, has proceeded to secure approval of a loan (money has not yet been lent) to maintain the building and maintain bare minimum operations. The loan would pay off the existing debts and enable us to keep the building in the hands of the Co-op until it could be sold. The Board has identified a buyer and has received an informal offer to purchase and voted to accept the offer to purchase the building if it is in fact formally made. If no sale is made during the term of the loan (1 year) then the loan agreement provides that the Self-Help Credit Union (the lender) would offer to buy the building. The membership needs to consider and ratify this course of action, or if not ratified, adopt a new course of action.

3. Consider how the Co-op will remain in operation (if at all) and how its remaining assets might be used to best benefit the community (Note well: Under the articles of incorporation there will be NO distribution of assets to members if the corporation is dissolved).

Everyone whose Durham Food Co-op membership is paid through September 21, 2008 (i.e., joined or renewed membership after September 21, 2007) will be eligible to attend and vote at this meeting.

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