REDI Innovation Hub Cooperatives Program

Regional Economic Development for Eastern Idaho (REDI) is developing a program to assist municipalities in supporting local communities to develop innovation hub cooperatives.

What are Innovation Hub Cooperatives?

Innovation hub cooperatives are buildings that serve as neighborhood destinations for innovation culture - designed, governed and owned by local communities as cooperatives, based on the solidarity cooperative framework.

What are examples of Innovation Hub Cooperatives?

Commongrounds is a 50,000 s.f. innovation hub cooperative in Traverse City, Michigan, which serves as both a pilot project and learning laboratory. It is presently the only project of its kind in the country - a mixed-use community building that is owned and governed as a cooperative.

Systems

• Co-Creation Systems
• Self Organizing Systems

Steps

1. Phase I: Develop Core Team and Vision
   1. Define and pre-develop the mission, vision and founding support team
   2. Seed the idea, enable emergence of partners
   3. Develop project access
   4. Develop cooperative governance and financing agreements
   5. Develop interim staff

1. Phase II: Develop Founding Membership and Vision
   1. Develop 15/150 founding membership
   2. Launch publicly
   3. Support visions from the membership
   4. Launch successive series of campaigns
   5. Conduct feasibility studies

1. Phase III: Property Acquisition
   1. Secure down payment for property acquisition
   2. Secure tenant partners
   3. Secure finance partners
   4. Finalize financing

1. Phase IV Optional: Construction/Renovation
   1. If necessary: Secure development and construction team

Secure ‘fee developer’ to manage the day-to-day development (e.g. entitlements, financing, construction) of the building/facilities.

1. 1. If necessary: Secure development and construction loan

The final step before breaking ground.

1. Phase V: Ongoing Management and Emergence
   1. Financial accountability
   2. Restorative practice
   3. Self organization
   4. Crowdsourced placemaking

Resources

• Catalyst hub cooperatives - A similar model to innovation hub cooperatives, supported by Be The Change Cooperative.