The cooperative bought the Fayetteville building in 2008, and today president of the board of directors
Joshua Youngblood announced a decision to pay the remaining principal, more than $1.5 million, in full on December 10.
The grocery store will have to pay a penalty for the early buyout, but the move will save close to half a million in interest payments, Youngblood says.
Some owners aren't happy about the decision, and say the board needs to hire a financial advisor before spending the cash.
"Ozark Natural Foods happens to be very financially successful at this particular stage," Youngblood says. "We have a lot of cash, so people have a lot of different ideas about what we should do with that. People think we could maybe invest it in different ways."
The opposition filed a petition, hoping to stop the process, and Youngblood says the cooperative is now looking at legal requirements before making the payment.
Single Parent Scholarship Fund of NWA's Spark of Hope Event
Get your tickets for the Spark of Hope now!
Have a Heart for Valentine & Ann Marie, Our Pets of the Week
These two ladies are looking for love!
99 Days With Eliot Mooney Remembered On Father's Day
FAYETTEVILLE, AR. -- Matt Mooney and his wife Ginny had their first child, Eliot in July of 2006. Eliot was born with a fatal condition,...
New Research Reveals Dangers of Hands Free Devices
JOPLIN, MO.--- The dangers of cell phone use behind the wheel are well known, but many of us ignore the warnings.
New Poll: Arkansas Voters Support Bipartisan Senate Immigration Bill
LITTLE ROCK, AR (News Release) - As the Senate takes up debate this week on the bipartisan immigration reform bill, state leaders discussed the importance...