Isla Vista Food Co‑op seeks short-term working capital and partnership with IVCSD; board directs staff to craft contribution plan

The Isla Vista Food Co‑op’s board president, Lisa Oglosby, told the Isla Vista Community Services District board that the 52‑year‑old cooperative is running sustained losses and needs immediate working capital to continue operations.

Oglosby said inflation and local demographic shifts have cut sales sharply in the post‑pandemic period. At the meeting she summarized the co‑op’s financial position: double‑digit declines in recent years, with staff later noting the co‑op experienced nearly 20 percent lower sales in 2023 and another roughly 20 percent decline in 2024, leaving overall sales “nearly 40 percent lower” than prior years. The co‑op reported mounting payables, reduced cash reserves and the risk of running out of operating cash unless new revenue or working capital arrives.

Why it matters: the co‑op is one of the few local grocery sellers that offers fresh produce and other staples within Isla Vista’s walkable neighborhood. Board members framed the co‑op’s continued operation as a transportation and access question: keeping affordable, local grocery options reduces the need for residents to drive outside the neighborhood for shopping.

Co‑op request and…