FAQ's about Grow Ossining 

 

1.  Why choose Ossining as the place to invest?

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Everyone involved in the Grow Ossining effort is either a resident of the Greater Ossining community or an interested family member or friend.  We all love our community and have a strong interest in our historic downtown’s revitalization effort.  Our vision is to use Grow Ossining funds to create a unique destination that will serve Ossining as a social centerpiece and springboard for even more business development.

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2.  Why should I join the effort?

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Because we are a grassroots community-driven group and our strength is in our numbers. Together we can reach our goal by building something we can all share and enjoy.

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3.  Who is currently involved in the launch of Grow Ossining?

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Grow Ossining is an all-volunteer group whose professional expertise and personal experiences include Finance, Law, Architecture, Construction, Marketing, Real Estate, Fundraising, Community Action, Property Management, Restaurant, Interior Design and many others.  Find out more on the ABOUT tab on our website.

 

4.  Might it make more sense to provide potential and experienced business owners with your capital support, rather than trying to build and manage a business yourselves?

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Our thinking is that Grow Ossining is not going to run a business. We are going to fund the potential for a new destination venue by creating the opportunity for a concession service, such as a bar, restaurant, marketplace, performance space, etc.

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5.  Can you show me examples where something like this has succeeded?

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Yes. Here's a link to several case studies.

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6.  Why does a private group want to do this? Shouldn’t it be the local government that promotes business development?

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Government efforts alone can’t revitalize Ossining. This is a way for all residents to pitch in! Everyone wants downtown to prosper and this is just another way of supporting local business development. We will be totally transparent in our efforts and will work with the local government to ensure we meet any concerns they may have.

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7.  Won’t this effort compete with other local businesses?

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The intent is to compliment the businesses that already exist by revitalizing Ossining and creating a unique destination space.

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8.  If I was an original Grow Ossining Founding Member in 2014 and the concept doesn't succeed, will I get my $100 back?

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Sorry, no. The money received from the Founding Members was seed money used to put together the bigger fund offering and create the business plan. It was a sunk cost but the Founding Members will be recognized in some way, perhaps on a plaque.   All of the $10,000 originally raised by Founding Members has been expended.  Most of the funds went to securities application fees to New York State, Other expenses were related to the design and printing of promotional material and public relations event fees.  ​

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9.  How does decision-making work? Who decides?

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A Board of Managers has been assembled from among the Founding Members and Committee volunteers. This group has solicited ideas, guided the market research, drawn up a business plan, written the investment prospectus and met with Founding Members along the way to make sure everything is transparent and everyone stays informed. 

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10.  On what basis was the Board of Managers selected?​

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The individuals invited to join our Board of Managers were selected on the basis of their professional experience and skills, a demonstrated history as active Ossining community members and their level of commitment and enthusiasm towards the Grow Ossining effort. 
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11. Who can invest?

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Due to the legal parameters of this investment fund, the investments we accept can only be made by residents of New York State who are 21 years of age or older.  We cannot accept out of state investors.
 
Have More Questions?  

 

Go to the Contact tab and send us your questions and comments.  We'd love to hear from you!