November 17, 2009
LIMA — Several large anonymous donations put the West Ohio Food Bank over the top on its quest to buy the building it has rented since 2005.
The food bank made a $350,000 down payment on the former Wright Food Service building at 1380 E. Kibby St. on Tuesday and will finance the rest of the $1 million purchase price through The State Bank and Trust Co.
The nonprofit began its capital campaign with the goal of moving money spent on the building to helping feed more people.
Owning instead of renting saves $3,000 a month, Executive Director Bambi Markham said.
Because a food bank dollar buys $25 worth of food, that’s $75,000 worth of food each month the food bank will provide to its 170 kitchens, pantries and shelters in 11 counties, State Bank Regional President David Anderson said.
The food bank remains in high fundraising gear, wanting to pay off the loan quickly to move even more money to operations and food purchases.
In 2008, the West Ohio Food Bank distributed more than 4 million pounds of food to more than 30,000 people.
“We don’t want to stretch this out,” Markham said. “The sooner we pay this off, the sooner we can turn that into food. This year we will distribute more pounds of food than ever before.”
The food bank moved to the current location with the intention of buying it. The agency previously had a lease agreement that made it also responsible for property taxes and maintenance.