THANKS TO YOU, WE DID IT!
As of February 28, the campaign met its goal of raising $1.8 million, allowing us to move forward with the purchase of our building at 1511 Mission Drive, which includes neighboring tenants Lemo’s Feed and Pet Supplies and Blue City Mortgage. We anticipate closing escrow in March on the building which has been sold to us for $2.6 million.
After paying a down payment of $1,000,000 we will assume a 10-year loan of $1.6 million with the Adams Legacy Foundation. This campaign has financed the first five-years of principal repayment. Each year the Foundation will reduce the amount of interest owed as the principal is paid back. Another unique feature of the loan is that there is no penalty for early repayment (and we would save future interest payments!), so we hope to be able to pay the loan off early with continued support by our friends.
Many thanks to everyone who contributed! If you’d like to contribute to our building purchase fund, please contact us! Thank you for being a member and friend to the Wildling and supporting our mission to connect our community to the art of nature – something no one else does like us!