Costs grow for Fort Collins Bike Co-op move

The Fort Collins Bike Co-op found a new roof to call home and then found a big problem.

In July, the co-op paid $420,000 for a permanent home at 1501 N. College Ave., the old ReSource Building Supplies location.

It was a bold and calculated move toward sustainability, the co-op said. But shortly after buying the property, it discovered a portion of the roof was structurally unsafe.

Now it's trying to raise at least $50,000 through Community Funded, a crowd-funding platform founded in Fort Collins, to get a new roof and renovate the space. The nonprofit co-op provides a variety of bicycle-related services and operates a store selling bikes and related gear.

If it cannot raise enough money board President Doug Cutter said there is a contingency plan to operate out of a portion of the building that is structurally sound. It would cut its indoor square footage to about 40 percent of the total "so we need to get the remaining building repaired as soon as possible," he said.

Cutter declined to comment on how the roof problems were overlooked during the property inspection prior to closing on the property.

The co-op plans to use the building for operations with a retail storefront on College Avenue and a warehouse and secure storage in the western half of the property, Cutter said. The group recently added a driveway from the back of the property to provide cyclists access to the building from the Hickory trail.

Construction costs are estimated at $172,288, including a new roof and interior renovations. The group has $100,000 in cash reserves that it can bring to the table.

"This unplanned expenditure to replace the roof and structural supports is not feasible without support from the community," the nonprofit said on the Community Funded website.

As of ThursdaySunday, the fundraising campaign had raised $9,755 from 48 donors with 2427 days remaining.

It's not unusual for projects to hit a fund-raising lull after the initial launch, said McCabe Callahan, founder of Community Funded.

"Every project experiences the valley of death," he said, "before a push for urgency at the end. There's a lot more significant fund raising at the end."

The co-op plans to move from 331 N. College Ave., where it has been since 2009. The property, part of Block 23, was recently sold toa developer J.D. Padilla, who is finalizing plans for the site bordered by Cherry Street on the north, Maple Street on the south, College on the east and Mason on the west.

Cutter said there is no deadline to leave the Block 23 location and the co-op won't move until the new site is ready. "But we are motivated to stop paying rent and a mortgage simultaneously," he said.