SARANAC LAKE - The Saranac Lake Community Store will host an open house at the proposed site for the store, the former Corvo's restaurant on Main Street, from 2 to 5 p.m Saturday, Feb. 5.
The open house is an opportunity for members of the community, whether investors or not, to drop by, discuss our plans and, most importantly, to suggest product lines for the store to carry. Also, suggestions of sources for products, particularly U.S.-made, will be welcomed. Board members will be on hand throughout the afternoon to answer any questions.
With some 600 investors on board, the capital-raising phase of this venture is close to a conclusion as organizers need to sell another 200 or so shares, or about 4 percent of the minimum requirement, to begin operations. Accordingly, organizers said they have started discussions with Greg Moore, the owner of the building on Main Street, regarding leasing the property and have also started the search for key management staff. Once the threshold of $500,000 in capital is reached the interim board will be able to enter into binding commitments to make this venture a reality.
The Saranac Lake Community Store is raising capital to open a community-owned retail department store that it hope will enhance the sustainability and self-sufficiency of the retail economy in the Tri-Lakes by providing a range of reasonably-priced goods not readily available in the community.
Shares are sold by prospectus only to residents of New York state.