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Proposal: Coworking Expansion and 404 Merger
Merge with 404 and include Coworking in Techlahoma's 2016 strategy
The 404 leaders have been providing coworking in the OKC downtown area for several years as a for-profit corporation (legally). However, this corporation has not made a profit and is unlikely to do so. Their motive is to provide coworking in order to improve the technology, creative, and entrepreneurial aspects of Oklahoma City. Non-profit status is something they considered but never actively pursued.
The current leaders are Tommy Yi and John Kerber.
The 404 is focused on improving the technical, creative and entrepreneurial opportunities, resources and community in Oklahoma City. That can mean a lot of things, but as we see it, it means more jobs, more startup businesses, more events, more educational opportunities, stronger community, more attention from local government to the valuable contributions we make that help create a thriving, growing city and economy. sent to Ryan Hoegg by Tommy Yi
- Is coworking compatible with what we think Techlahoma is about?
- Is coworking in 2016 feasible, assuming the 404 becomes part of Techlahoma?
- The 404's mission covers Oklahoma City only. Are the 404 leaders happy with expanding the geographic mission?
- The 404's mission includes creating and entrepreneurial communities. Are the Techlahoma board members happy with expanding the communities we advance?
- The 404 is in negotiations with a real estate developer about moving to a new location. ** This location could support the Techlahoma Space Program. ** Tommy Yi would like to arrive at a decision about this merger before finalizing negotiations about the location, since Techlahoma would be the organization ultimately using it and possibly responsible for the financial obligations and management.
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We came to agreement that we think 404 and Techlahoma’s visions align, and we want to merge. We did not work out all the details of how that works, but it’s soon and under the Techlahoma brand.
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We got deep into particulars of the space Tommy is considering, and how it would work for both coworking and events/groups. Lots more to go through there, but it looks nice
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Tommy and John will be on the new Coworking Program Committee, and Tommy will Chair. Most likely we’ll nominate them in 2016 for board membership in 2017
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Lots of discussion about the financials of getting into a bigger space, including some nice financial projections Tommy brought. Upshot of those: we’ll likely be losing money for several months when we open, but the program will generate a monthly profit for Techlahoma once it’s running smoothly. We should pursue donations to cover the shortfall until breakeven, and start with $30K as a rough goal covering some build out and furniture and the shortfall for the first few months.
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Amanda seems to be a good candidate for a “staff” position, and eventually a Techlahoma Executive Director She would provide the big missing piece in 2016 for Coworking, which is the day to day management of the place and the community.