EMPLOYEE OWNERSHIP COMMISSION MEETING (In-person)

October 01, 2024

Online via Zoom 

12:00PM—1:30PM MT

MINUTES

IN ATTENDANCE: A. Clark, K. Oyler, D. Dell, S. Gripne, K. Siggins, Y. Holguin, J. Martins Rodrigues, D. Luzietti, D. Mousetis, S. Shoemaker, T. Watkins, N. Maloney, K. Cantillo, M. Holmes, M. Champoux-Pellegrin, C. Arnold, A. Ortiz, R. Carls, A. Steffes-Tuttle, M. Heltt.

ABSENT: J. Briggs, J. Wiener, Rep. Ricks.

1. 12:03PM, Welcome, K. Siggins
2. 12:04PM, Regular Business, K. Siggins

1. Approval of September 10, 2024 Meeting Minutes

1. Motion to approve by D. Dell, seconded by J. Martins Rodrigues, none were opposed.

2. EOC CY24 Strategic Plan check in

1. EO Month event update (rsvp here)

1. T. Watkins requested attendees to RSVP for the event on 10/17/2024. A brief discussion ensued in regards to the amount of attendees and the fact that there are only a few tickets remaining.
2. K. Siggins made remarks about the path ahead for strategic planning and the focus for 2025, using the November meeting for Chair election and the December meeting to dive into finalizing the strategic plan. K. Siggins expressed interest in establishing a partnership with Certified EO, increasing usage and awareness of financial resources, and focusing efforts on the manufacturing industry.
3. D. Dell gave a brief update on efforts to market the CCS program, recent events, and alluded to a more robust update further along in the agenda.
4. K. Siggins reiterated the importance of each commissioner in taking initiative in the strategic planning process, as well as attending the meetings.

2. HB24-1157 activation update

1. T. Watkins provided an update on the activation of HB24-1157, in calendar year 2025, with the webpage being posted in the near future.

3. 12:11PM, Guest Speaker, D. Mousetis

1. Guest Speaker: Drew Mousetis, Executive Director of Tandem Center for Shared Business Success
2. Topic & Discussion: Direct Employee Ownership – An Alternative to an ESOP
3. Agenda Items:

1. Welcome and intros
2. Overview of agenda and objectives
3. Overview of Cargas Systems, from inception in 1988 to today with over 160 direct employee-owners
4. Discussion of the Direct Employee Ownership Model & How it Works
5. Introduction of Tandem, a new non-profit organization focused on awareness, education, and implementation of the direct employee ownership model
6. Q&A

4. 12:56 PM, Partner & Staff Reports, T. Watkins

1. K. Siggins remarked that she was reading off the wrong agenda at the top of the meeting, and as such, some of the items she spoke to were not relevant to today's meetings.
2. CO EO Office Monthly Update

1. Legislative Update

1. In active coordination with the Governor's team about the next legislative session. The Governor’s budget will be published publicly on November 1. We will have more information to share publicly in the coming weeks.
2. HB24-1157, Employee-Owned Business Office & Income Tax Credit Program page copy is completed, pending posting on the OEDIT webpages. The first tax year for eligible expenses is 2025. There is a google form to capture potential applicants' contact information.

1. SalesForce program application portal has been relaunched and is now live. EOTC was recently migrated. Please reach out to M. Licina if you are aware of any issues with applicants.

3. CCS Update:

1. Recent activity in the bonding space has come up again. We are working to support the advancement of a bonding CCS use case for a LOC. Thanks for your continued support, D. Dell!

4. Outreach and Conversions Update:

1. Still tracking outreach and conversions - please report them out or add directly to tracking sheets.

5. Other Data Tracked

1. Data is not being reported out at this meeting because of the short time between this meeting and the meeting last month. If you have any questions or concerns, please contact M. Licina.

6. Events

1. Recently Executed

1. 09/12-09/14/2024, 2024 Worker Co-op Conference, Chicago, IL.
2. 09/19/2024, EDA Alliance Summit, Durango, CO. Presentation confirmed with esteemed panelists: K. Siggins, K. Oyler, and an SBDC Consultant who is an expert in exit planning.

1. Employee Ownership is the only panel that was featured twice during the program.

3. 09/20/2024 Durango Employee Ownership Meet & Greet at Steamworks.
4. 09/23/2024 Lessons on Worker Ownership from the Main Street Phoenix Project Webinar, sponsored by CSU. J. Wiener shared key insights and lessons learned.
5. 09/24/2024 EPI Denver Chapter Event: Business Owner Panel - Stories of Excellence on ESOPs.
6. J. Martins Rodrigues provided an update on a recent event with the Dollhouse Collaborative.

2. Planned or Under Development:

1. 10/17/2024, 5:00-8:00 PM, EO Month Event at CSU Spur. RSVP here.
2. 10/22/2024, IMA Bonding Luncheon to market CCS program with D. Dell and M. Licina.
3. 10/29/2024, 12PM, USDA Webinar with DOL - Cooperative Ecosystems: Transformations in Worker Ownership, Housing, Community Development, and Agriculture.

1. Thank you to J. Wiener for his support with this engagement.

4. 11/13-11/15/2024, TEA Annual Conference in Las Vegas, NV, D. Dell speaking on CCS usage in Colorado.

1. D. Dell offered an update on his presentation plan for this engagement.

5. 11/17/2024, Gary Impact Investing Event, D. Dell is attending.

1. T. Watkins added that the Colorado Employee Ownership Office has been in coordination with Gary's team.

6. 10/23/2024, Colorado Health Foundation (CHF) Event

1. C. Arnold raised that this event is upcoming, and N. Maloney provided a brief update.
2. Y. Holguin touched on a previous engagement with the Foundation.
3. N. Maloney mentioned that CHF is activating a consultation firm as opposed to directly engaging with the Colorado Employee Ownership Office.
4. Y. Holguin expressed that it is unclear to her who the audience is for this event.
5. M. Champoux-Pellegrin added that she is aware that CHF is seeking to get the employee ownership network activated and develop support systems as needed.

3. A Look Ahead - EOC Series:

1. 11/05, Virtual

1. EOC Chair nomination and election.
2. Guest Speaker: Paola Bellotti
3. Topic & Discussion: Coop Finance and Investment in Italy

2. 12/05, In-person

1. Presentation TBD.

4. CCWB “From the Field” Update - M. Holmes

1. An update was provided on recent networking efforts, including an event in Fort Collins that had a turnout of 20 individuals.

5. RMEOC “From the Field” Update - M. Champoux-Pellegrin

1. An update was provided on the ARPA SLFRF grant program. The update included findings on the quicker turn around on client engagement based on the partial to full coverage of the service agreements.
2. A rural county outreach program is underway, including a zero dollar cost conversion service for 1 business within the next year, in Walsenburg and surrounding areas.
3. The Drivers Cooperatives app has launched officially and more riders are needed.
4. There are efforts underway to make a list of alternative equity structure companies in Colorado, and to author case studies.

5. 1:15PM, Public Comment

1. M. Heldt of Midfirst Bank introduced himself and explained that he is excited to be a part of the EOC meeting series.
2. C. Arnold made a request to market open board seats at RMEOC. K. Siggins suggested mentioning this at the EO Month Event.

6. 1:15PM, Commissioner Updates

1. Y. Holguin made a plug for the Colorado Solidarity Fund for an event that is upcoming.
2. S. Gripne mentioned a pitch event that is going live that includes eligibility for cooperatives and ESOPs.

7. 1:19PM, Conclusion & Adjournment, K. Siggins