FXBG Food Co-op seeking Opportunity Zone investments
The Fredericksburg Food Co-op has begun seeking accredited investors through the federal government’s Opportunity Zone program.
The Co-op this week released a private placement memorandum describing the investment opportunity. The Co-op plans to open a member-owned grocery store later this year in about a 9,400-square-foot space at 320 Jefferson Davis Highway in Lee Plaza.
That space, like about half of the City of Fredericksburg, is within the Opportunity Zone program, which allows investors to receive tax benefits on capital gains by investing those gains in qualified census tracts designated as part of the program. Click here to learn more about how the program works.
People interested in investing can do so by buying non-voting, preferred stock in the Co-op in amounts ranging from $10,000 to $1.5 million. In exchange, they will receive a 6 percent annual dividend. Any investments made will be part of the Co-op’s capital financing plan for the store build-out and equipment. People interested in learning more about the fund and/or getting a copy of the private placement memorandum can email the Co-op at fxbgfoodcoop@gmail.com.
