M
oscow Community Investment Co‑op (MCIC) has just formed a board and is actively raising capital. The co‑op, incorporated in August and set up bylaws and a bank account in September, aims to let residents invest in downtown commercial real estate while keeping the spaces “accessible, welcoming, and rooted in community values.”
During a Wednesday evening meeting, MCIC introduced its board and shared progress. Secretary Phil Shinn emphasized that the co‑op gives locals a say in downtown development. Board President Ben Calabretta noted that, although over 300 people have pledged support, the venture will need many more participants to succeed. “We’re in this together,” he said.
Membership is offered through $1,000 shares that grant voting rights to Latah County residents. Those outside the county can buy non‑voting shares. MCIC is drafting a prospectus and expects to start selling memberships in a few months.
The co‑op seeks donations to cover start‑up expenses: at least $15,000 for legal fees, $4,000 for bookkeeping, $2,500 for website development, and $1,100 for insurance. Once membership is secured, the next step will be property acquisition.
Key board members include Vice‑President JT Manning (local real‑estate agent), Treasurer Bev Rhoades (former WSU College of Education Director), Outreach Director Aly Bean (WSU research associate), and Pat Vaughan (former Latah County assessor). Ben Calabretta also directs WSU’s Center for Civic Engagement, and Phil Shinn is an urban forester.
More details are available at moscowinvestment.org. For inquiries, contact [email protected].
