We have the opportunity to buy our building at a great price. You can support us by purchasing RadBonds as well as donating! Anyone can invest and help us ensure RadStorm doesn’t fall victim to the precarity of commercial rental markets.
The Challenge
Skyrocketing real estate prices in Halifax leave non-profit arts and community spaces like RadStorm at risk of losing our building due to rising rents. Buying our home will allow RadStorm the stability to continue to run this community centre in Halifax.
The Opportunity
We have the opportunity to buy our building for a great price from our supportive landlords. To raise funds, we are using a unique financing tool called community bonds, or in our case, “RadBonds”. Our RadBonds will be available to anyone who wants to invest and help us ensure that RadStorm doesn’t fall victim to the precarity of commercial rental markets.
Project Details
Radstorm is raising $500,000 to buy 2177 Gottingen Street. We will raise these funds from a mix of personal donations, government funding, and community bonds.
The purchase price of the building is $450,000, and by raising $500,000 we will be able to cover the purchase price as well as closing costs and associated taxes.
About Us
RadStorm is a non-profit community arts centre that is situated in Kjipuktuk/Halifax and dedicated to fostering creative and progressive cultural activities for people of all ages, following a do-it-together ethos.
Under RadStorm’s umbrella are three separate collectives: Sadrad Music Collective, The Anchor Archive Zine Library and Inkstorm Screenprinting Studio. RadStorm is also home to other important community resources and projects such as The People’s Photocopier, The People’s Fridge and The People’s Kiln & Clay Space.
The Investment
What are RadBonds?
A RadBond is a community bond, which is an interest-bearing loan that a non-profit can issue to support a project that they are undertaking. Individuals or businesses can purchase bonds and earn a fixed interest rate.
Interest will be paid out according to a schedule and at the end of the bond period investors can choose to redeem their principal or re-invest in any new bonds that may be available.
How will interest be paid?
Interest will be paid annually, based on a percentage of your principal investment.
Is there a deadline to invest?
We will be selling RadBonds for a 6 month period, or until we hit our investment goals.
RadBonds Raised
Investment Options
Project Team
FAQs
What is a RadBond?
A RadBond is community bond, which is an interest-bearing loan that a non-profit can issue to support a project that they are undertaking. Individuals or businesses can purchase bonds and earn a fixed interest rate.
Interest will be paid out according to a schedule and at the end of the bond period investors can choose to redeem their principal or re-invest in any new bonds that may be available.
What happens when my RadBond matures?
Interest will be paid out according to a schedule, and at the end of the bond period, investors can choose to redeem their principal or reinvest in new bonds that may be available.
Are there investment limits for RadBonds?
There are no investment limits for individuals, businesses, and organizations wishing to purchase a community bond. Investors are only limited by our investment goal, which is $350,000.
Who is eligible to invest?
Individuals, businesses, and organizations throughout Canada are eligible to purchase a RadBond.
Who is managing the investment process?
RadStorm has consulted with Tapestry Community Capital to develop and implement the community bonds campaign. Investments will be administered via Tapestry’s proprietary investment management platform, Atticus. RadStorm will manage client relations and be available to meet with investors to answer questions about their investments.
How do I know my information is secure after it has been collected?
RadBonds are available for purchase through Tapestry Community Capital’s Investor Portal, which is a closed, encrypted system. Tapestry is RadStorm’s investment administrator. All traffic between the client and server is SSL-encrypted with a signed certificate issued by a third-party certificate authority (COMODO RSA Domain Validation Secure Server CA). All database files on the server are encrypted at rest. The server is hosted in a secure data centre in Canada. All data changes are logged in an audit trail and only key Tapestry staff have access to this data.
For more information on Tapestry’s Privacy Code please visit: http://tapestrycapital.ca