Building For Your Future

Support a year-round indoor farmers market, possibly at the VIEx grounds.

AAP p33

RDN - AAP Action Item 2.2 B

Our Vision

Provide a building, equipment and staff needed for a year-round indoor market.

City of Nanaimo

Approved the project in principle on October 24, 2016

Whether Modern in Design

Or Rustic

St. Catharines Farmers Market

We’ll BringFarmers

And Others Together

Island Roots Today

● Two markets per week (Wed and Sat) in Summer

● Wednesday Market in Winter

Island Roots Tomorrow

Your Role - AAP Action Item 2.2 B

Leads: City of Nanaimo, BCAFM, Local farmers markets Supporting: RDN

Priority: High Time Frame: Medium - To be completed within 3 to 5 years after adoption (in 2012) of the AAP

Requirements: Moderate to Significant depending on location and management model. Sources: Vendor fees, grants, RDN, credit unions

How Much Will It Cost?

Facility Size Cost Estimated Cost

IRMC Market Building 8,000 sq ft $150/sq ft $1,200,000

Outdoor Covered Space 10,000 sq ft $50/sq ft $500,000

Land (approx. 1/2 Acre) Provided by Nanaimo $270,000

Totals (excluding land cost) 18,000 sq ft $1,700,000

Consultants Fees 12% (of construction cost) $204,000

All in Totals Including land $2,174,000

Where will the money come from?

Source Amount Committed

City of Nanaimo (land and services) $300,000 $270,000*

Grants & Donations (including RDN) $625,000

Members’ Shares and other securities $625,000 $18,200

Mortgage (vendors) $625,000 $625,000*

Our objective is to have the market capitalized by 3000 members holding an average of $1000 dollars in membership shares each. This goal will not be reached until some time after the market has opened. In the meantime we are seeking funds as follows:

* Pending Confirmation

Now What?

A Feasibility Study● Architectural work (floor plans, limited site plan, and design sketches). ● A Quantity Surveyor to provide a range of costing off of the architectural drawings and based on similar

buildings.

● Civil Engineer (preliminary report regarding required roadwork, sewer, power, water, communications, etc.)

● Geotechnical and Landscaping Consultants, if required.

$25,000 Estimated Cost

Now What?

The Money Will Be Used For● Architectural work (floor plans, limited site plan, and design sketches). ● A Quantity Surveyor to provide a range of costing off of the architectural drawings and based on similar

buildings.

● Civil Engineer (preliminary report regarding required roadwork, sewer, power, water, communications, etc.)

● Geotechnical and Landscaping Consultants, if required.

$25,000 Estimated Cost

Please Consider

● Providing a letter of support that can be attached to grant applications.

● Accepting donations for the project. This gives donors a tax receipt.

● Writing applications for grants from outside funding sources.

● A $25,000 grant to pay the cost of the feasibility study