The Docket · Government Meeting · DKT-2026-000979

On the agenda: Veneta meeting — data center (Jul 31)

Past ⚠ Agenda Watch Veneta, Oregon · Friday, July 31, 2026 — 1 month ago

About this record

The published agenda for this July 31 meeting contains: "data center". The meeting has passed; the record and its outcome live here permanently.

WhenFriday, July 31, 2026
Check the agenda document for the meeting time.

WhereVeneta, Oregon

Money$25,000 was at stake

On the record“data center”

The agenda, word for word

Government public record — the full text of the published document, archived August 18, 2026. Gold highlighting of key terms is ours, not the original’s. Read the original document ↗

51 pages · scroll to read

Page 1 of 51

AGENDA
VENETA BUSINESS ASSISTANCE COMMITTEE MEETING
Friday, July 31, 2026 – 9:00 a.m.
Veneta City Hall – J.W. “Bill” Smigley Room
88184 8th Street, Veneta, Oregon
1.

CALL TO ORDER

PUBLIC COMMENTS
Speakers will be limited to 3 minutes each. The Business Assistance Committee
will not engage in any discussion or make any decisions based on public
comment at this time; however, they may take comments under advisement for
discussion and action at a future Business Assistance Committee meeting

EXECUTIVE SESSION - ORS 192.355(17)(a) - “Records, communications, and
information submitted to… a City governing body…, by applicants for
investment funds, grants, loans, services or economic development moneys,
support or assistance."

ADMINISTRATIVE
a. Approve Minutes of April 24, 2026 (pgs.1-5)

NEW BUSINESS
a. Welcome New Committee Member - Ginger Jewells
b. Business Grant Program Application (pgs. 6-50)
Applicant: Our Third Space
c. Signage Grant Program Application (pgs. 50-60 )
Applicant: Our Third Space

OPEN DISCUSSION

OTHER
a.
b.

Harvest Festival
Business Retention and Expansion Business Survey

NEXT MEETING – August 28, 2026, at 9:00 a.m.

ADJOURN

Maureen Wright
Jacob Thode
Jacob Thode

Page 2 of 51

Access Meetings Via The Zoom Link Or Phone Number Below
Business Assistance Committee ZOOM Link:
Mobile: +12532158782
Meeting ID: 899 033 36309 Passcode: 756202

https://tinyurl.com/VenetaBusiness

Zoom Waiting Room: All attendees will wait in the Zoom Waiting Room until the meeting begins. Attendees
will not be permitted to address the council/commission/committee during the meeting unless they have
registered to do so by emailing the City Recorder (see below). The City Recorder will unmute the microphone
for registered public comments at the appropriate time during the meeting.
Sala de espera de Zoom: Todos los asistentes esperarán en la sala de espera de Zoom hasta que comience la
reunión. No se permitirá a los asistentes dirigirse al consejo/comisión/comité durante la reunión a menos que
se hayan registrado para hacerlo enviando un correo electrónico al Secretario de la Ciudad (ver más abajo). El
Secretario de la Ciudad activará el micrófono para los comentarios públicos registrados en el momento
apropiado durante la reunión.

Sign-Up To Make A Public Comment By Noon Of The Meeting Date
Email City Recorder Jen Mirabile ([email protected]) by Noon of the meeting date with information
about your comment on: (1) a non-agenda item, and/or (2) a specific agenda item.
Meeting Agendas can be found on the City website at www.venetaoregon.gov/agendacenter
Envíe un correo electrónico a la Secretaria de la Ciudad Jen Mirabile ([email protected]) antes del
mediodía del día de la reunión con información sobre su comentario sobre: (1) un tema fuera del orden del
día, y/o (2) un tema específico del orden del día. Los órdenes del día de las reuniones se pueden encontrar en
el sitio web de la ciudad en www.venetaoregon.gov/agendacenter
YouTube
Meetings will be livestreamed with Closed Captioning on the City’s YouTube Channel:
www.youtube.com/@CityofVeneta Las reuniones se transmitirán en vivo con subtítulos en el canal de
YouTube de la Ciudad: www.youtube.com/@CityofVeneta

Page 3 of 51

BUSINESS ASSISTANCE COMMITTEE
MEMBERS:
MAUREEN WRIGHT (CHAIR)
BRITTANY LEHMAN (VICE-CHAIR)
LARISSA MAYFIELD

GINA HALEY-MORRELL
MCKENZIE GIBSON
MINUTES

Business Assistance Committee
Friday, April 24, 2026 9:00 AM
Veneta City Hall – J.W. “Bill” Smigley Room
88184 8TH Street, Veneta, Oregon
Present:

Chair Maureen Wright, Vice-Chair Brittany Lehman, Member Gina HaleyMorrell, Member McKenzie Gibson, Member Larissa Mayfield (Zoom)

Absent:

None

Staff:

Management Analyst (MA) Jacob Thode, City Recorder (CR) Jennifer
Mirabile
Steve Georgiou, Owner, Adelphi Engineering, Jordan Mackay, Owner,
Our Third Space

Attendees:

_________________________________________________________________________________________________________

CALL TO ORDER
Chair Wright called the Business Assistance Committee meeting to order at 9:00
a.m.
MA Thode asked to add an Executive Session to the agenda to discuss the
Business Grant Program Application of the new business, Our Third Space.
MA Thode also requested that Mr. Steve Georgiou report on his post grant-award
earlier in the agenda, moving 5.0 Old Business/Post Award Follow-up to 3.0 on
the agenda.
Vice Chair Brittany Lehman entered the meeting at 9:01 a.m.

PUBLIC COMMENTS
None.

OLD BUSINES
a. Post Award Follow-Up - Adelphi Engineering

Page 4 of 51

Business Assistance Committee Minutes
Friday, April 24, 2026
Mr. Georgiou from Adelphi Engineering provided an update on his CNC machining
business development. The city had provided $25,000 for commercial development and
SPDC reduction for the Broadway location.
Mr. Georgiou explained his evolution from initially seeking to purchase an existing
manufacturing business to deciding to build from scratch due to high equipment setup
costs.
Mr. Georgiou reported that his land is paid off and building kit purchased, with private
lending negotiations underway. He expects about 30-40% out-of-pocket investment
given his existing equity. The project timeline has shifted from an original March start to
May, with completion hoped for by summer.
Mr. Georgiou noted challenges finding contractors for the mid-sized project and
mentioned partnering with another company with more construction experience.
Jacob Thode highlighted that the grant funding helped Mr. Georgiou secure additional
private lending by demonstrating city investment in the project.
Committee members asked about Mr. Georgiou's target market, with him explaining
plans to manufacture cooling blocks for electronics, particularly targeting data centers.
While he doesn't currently have contracts lined up, he has consulting experience in
cooling systems.
Chair Wright asked if members had further questions.
There were none.
Mr. Georgiou exited the meeting 9:05 a.m.
MA Thode introduced Jordan Mackay, the Business Grant Program applicant that the
Committee would consider later in their meeting.
Mr. Mackay introduced himself, explaining his 25 years of experience in the
entertainment industry and successful tavern operation in Ashland. He described his
vision for a bookstore with coffee, tea, and alcohol sales that would serve as a
community gathering space downtown. He further shared he operates a traveling food
cart and has been involved with local festivals, most recently participating in Veneta’s
Harvest Festival.
4.

EXECUTIVE SESSION
Chair Wright paused the regular Business Assistance Committee Meeting at 9:10
a.m. and called the Business Assistance Committee’s Executive Session to
order.
Chair Wright announced this session was governed by ORS 192.660(2)(f) to
consider information and records that are exempt from public inspection
2

Page 5 of 51

Business Assistance Committee Minutes
Friday, April 24, 2026
specifically financial records related to grant funding that are confidential under
Oregon Public Records Law.
Chair Wright adjourned the Business Assistance Committee’s Executive Session
at 9:59 a.m.
Chair Wright reopened the regular Business Assistance Committee Meeting at
9:59 a.m.
5.

ADMINISTRATIVE
a. Approve Minutes of August 29, 2025

Member Gina Haley-Morrell asked for corrections to both sets of minutes, specifically
the spelling of Harvest, Mid Lane Cares and Chief Borland.
Motion to approve the August 29, 2025 and September 26, 2025 meeting minutes,
as amended.
Moved by Member Gibson. Second by Member Haley-Morrell.
Motion passed unanimously (5-0).
6.

NEW BUSINESS
a. Business Grant Application – Our Third Space

MA Thode presented the application from Our Third Space, owned by Jordan Mackay,
requesting a business grant for up to $21,605. The application is for a startup coffee
shop and hybrid bookstore/traditional public house to be located at 24993 West
Broadway.
MA Thode noted that the property where this new business would be located was
currently supported by an Urban Renewal Grant for up to $250,000.
Committee members expressed significant concerns about the project's viability and
timing.
Chair Wright noted that the Smith family's building project remains incomplete despite
extensions, creating uncertainty for any tenant business.
Committee members questioned whether it was appropriate to approve funding for a
business dependent on an unfinished development that has already received
substantial City investment noting that the building construction timeline remains
uncertain.
3

Page 6 of 51

Business Assistance Committee Minutes
Friday, April 24, 2026
Chair Wright asked if Councilors had any further questions.
There were no further questions.
Motion to deny the business grant application in the amount of $22,955 based on
the incomplete status of the underlying building project and uncertainty about
completion timeline.
Moved by Member Gibson. Second by Vice Chair Lehman
Motion approved unanimously (5-0).
Chair Wright invited Mr. Mackay to reapply once the building project reaches substantial
completion, suggesting he return when occupancy is within 30-60 days. The committee
also indicated they would likely request more detailed financial projections covering 3-5
years at that time.
b. Signage Grant Program Application – Our Third Space
Chair Wright asked for a motion regarding Mr. Mackay’s signage grant.
Motion to deny the signage grant in the amount of $1,350 based on the
incomplete status of the underlying building project and uncertainty about
completion timeline.
Moved by Vice-Chair Lehman. Second by Member Haley-Morrell.
Motion approved unanimously (5-0).

OPEN DISCUSSION
None

OTHER

MA Thode announced that the Business Retention (BRE) training had begun, with 11
volunteers signed up toward a goal of 15-20. Training will continue next week, with
interviews starting mid-May and surveys launching in early June.

NEXT MEETING – May 29, 2026 at 9:00 a.m.

10.

ADJOURN
Chair Wright adjourned the meeting at 10:36 a.m.

Page 7 of 51

Business Assistance Committee Minutes
Friday, April 24, 2026
____________________________
Maureen Wright, Chair

ATTEST:

_______________________
Jennifer Mirabile, City Recorder

Page 8 of 51

BUSINESS ASSISTANCE COMMITTEE
AGENDA ITEM SUMMARY
TITLE/TOPIC: Business Grant Program Application for Our Third Space
Meeting Date: July 25 2025
Department: Economic Development

Staff Contact: Jacob Thode
Email: [email protected]
Telephone Number: 541-935-2191

ISSUE STATEMENT
Should the BAC recommend Our Third Space’s $19,000 Business Grant Program application be
approved by City Council?
BACKGROUND
Our Third Space has requested grant funding up to $19,000 through the City of Veneta’s
Business Grant Program (BGP). See Attachment 1. This program is intended to encourage
business expansions and startups that create or retain job opportunities in Veneta and
contribute to a vibrant local business environment.
On April 24th, the committee denied the application due to the incomplete status of the "Attic"
property, and for uncertainty regarding project timeline. The BAC requested that the Applicant,
Jordan Mackay, reapply when the the building occupancy was within 30-60 days, along with
requesting more financial projects covering 3-5 years of revenue and expense projections. See
Attachment 6.
Our Third Space is a start-up operation that intends to create and operate a hybrid community
bookstore and traditional public house within the City’s downtown area. They will be renting
space at 24993 West Broadway Property, otherwise known known as the “Attic.” The project
intends to create 1-2 jobs at launch, with the aim to increase employment to five positions in
the long-term. The business also intends on creating a space that supports the already existing
food truck environment, while adding a "third place” in the downtown area where community
members may purchase alcohol, drinks, and relax inside.
The applicant is seeking grant funding to support the initial furnishing and stocking of books
and beverages to the business to assist with beginning capital costs for the startup.
The City Council allocated $50,000 to the Business Grant Program for fiscal year 2025-26,
specifically to support business growth and job creation within city limits. No grant funds have
been awarded as of this this fiscal year.

For the committee’s consideration:
The EDC requires that any start-up businesses that are unable to provide the program’s
required business banking statements and a 3-month profit and loss statements may also
submit financial pro-forma for 3-5 years. Generally, this would consist of the following
material:

Page 9 of 51

•

•
•

Income Statement (Profit and Loss Statement)
o to include anticipated revenues;
o costs of goods sold;
o operating expenses;
o and net income.
Cash Flow Statement,
o to include timing of cash inflow/outflow,
o monthly burn rate,
o and runway
Balance Sheet outline projected assets, liability, and equity.
Break-Even Point Analysis.

Our Third Space’s financial pro-forma may be found within Attachment 3 of this report.
Additionally, the BGP’s eligible project awards are set as follows:
• Successfully awarded grants will be eligible for funding based on the following project
outcomes. Projects that create, retain, or support up to one FTE job may be eligible for
up to$10,000 of BGP grants.
• Projects that create, retain, or support two or more FTEs may be eligible for up to
$25,000 of BGP grants.
• Projects supporting one FTE may also be eligible for up to $25,000 if they meet two or
more of the program’s economic preference criteria.
To meet the third criteria established above, a project consisting of one FTE must meet two of
the following criteria:
•
•

•
•

Creation or retention of permanent jobs involving skills related to manufacturing and
industrial production.
Linkages with the area’s existing economy which would permit a business to absorb
displaced or underemployed skilled workers in the area labor force, particularly for the
low and moderate income.
Companies whose markets appear to indicate the opportunity for significant expansion
or production, and employment, over the short term.
Significant opportunities for the development and/or expansion of disadvantaged
business enterprises, minority-owned businesses, woman-owned businesses, veteranowned businesses and emerging small businesses certified under ORS 200.055.

The Business Assistance Committee is asked to review the application and determine
whether to recommend that the Veneta City Council award grant funds to Our Third Space
based on alignment with the BGP’s goals and the availability of funds.
RELATED DOCUMENTS
Business Grant Program Information and Application Package
7

Page 10 of 51

COMMITTEE OPTIONS
1. Recommend Our Third Space’s $19,000 Business Grants Program application be
approved by City Council.
2. Recommend partial approval of Our Third Space’s $19,000 Business Grants Program
application be approved by City Council.
3. Deny Our Third Space’s $19,000 Business Grants Program application.
CITY ADMINISTRATOR’S RECOMMENDATION
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ATTACHMENTS
1.
2.
3.
4.
5.
6.

BGP Application Form
Business Plan
Financial Pro-Forma
January-May Business Banking Statement
Veneta Business Registration
Supplemental Financials

Page 11 of 51

Attachment 1. Business Assistance Grant Application Form - Our Third Space

Telephone Number.
Business: N/A
Personal: (541) 991-9281
Fax: N/A

Primary Contact: Jordan Mackay
Street Address: 24487 Bolton Hill rd.
City: Veneta

State: OR

Zip: 97487

Proposed Business Address (If different from above)
Street Address: 24993 W. Broadway
City: Veneta

State: OR

Zip: 97487
Date Under Current
Nature of Business: Bookstore & Public House Date Established: In Process
Management: N/A
Number of Full Time Equivalent Employees:
X 0-5 Employees
More Than 5 Employees
COMPANY OWNERSHIP
(List below all owners, principals and officers; attach schedule of additional names, if necessary) Show 100% of
Ownership

Name
Jordan Mackay

Title

% of Ownership

Owner

100%
%
%
Total: 100%

AFFILIATES

(List all business concerns in which the Applicant Company/individuals listed in the ownership section above have
any ownership. Attach current financial statement and tax return.)

Company Name

Owner (Applicant Company or Individuals)

% of Ownership

N/A

Page 12 of 51

Attacmment 1. Business Assistance Grant Application Form - Our Third Space

PO Box 458 * Veneta, OR 97487 * 541-935-2191 * Fax 541-935-1838 * www.venetaoregon.gov
Application Information and accompanying financial records submitted to the City of Veneta will be
kept in confidence to the extent permitted by law, and while the City believes that the records will not
be subject to disclosure, it is possible that disclosure might be required for some documents.
OTHER INFORMATION
Has the applicant, any of its principals, or any other business in which the principals were
principals filed bankruptcy or defaulted on any debts within the past 10 years?
Is applicant or any of its principals a party to any claim or lawsuit? Is any principal or
applicant (i) currenty under indictment, or on parole or probation: (ii) ever been charged
with or arrested for any criminal offense, other than a minor motor vehicle violation; or
(iii) ever been convicted of any criminal offense?

Yes

No
X

X
X

Does the applicant owe any taxes for years prior to the current year?
Please Select the Grant Program(s) you are applying for:
Commercial Development
Business Grant Program
X
Incentive Program
Signage Improvement
Program

Façade Improvement
Program

MATCHING FUNDS
What matching funds will you commit to this effort?
Source: Personal Savings: Build-out of business
Source: Personal Savings: Starting Capital
Source:
Source:
Source:

Vibrant Veneta
Streetscape Improvement
Program

Amount: $25,000
Amount: $10,000
Amount: $
Amount: $
Amount: $
Total Funding: $35,000
Not Secured at this time:
$0

Amount Secured:
Amount Applied For:
$35,000
$0
RETURN ON INVESTMENT (ROI)
An ROI is described as a 1:# match (one to percent match). To calculate the ROI, take the amount you are
matching and divide by amount requested. Example: A project that is matching $50,000 and is requesting
$10,000 (50,000/10,000 = 5) has an ROI of 1:5.
Return on Investment:
Amount Matching:
Amount Requested:
$35,000
$22,955
1:1.5
Do you intend on Hiring additional
Employees during or after the duration
of this project?

X Yes

If yes, please
estimate # of jobs

3-4

10
14

Page 13 of 51

Attachment 1. Business Assistance Grant Application Form - Our Third Space

Project Cost Estimate

Successful grant reimbursements will be based off of the project’s estimated costs.
Please provide as much detail as possible as to all expected costs of your project.

Project Name:

Expense/Item Description
Bar countertop and backbar/shelving (used)
Undercounter draft dispensers/refrigerators
Desk (used)
Large corner booths (seat 10)
24” small booths
Small booth tables
24” round table
30” round table
36” round table
Table chairs
Reading chairs
Standard booth set (used)
Standard booth table
Pedestal tables
Ornate salvage door
Leather couch (used)
Bar stools (used)
Custom bookcases (built onsite)
Additional lighting (tables/small spotlights)
Hand sink for bar (used)
Commercial coffee machine (used)
Glass racks (used)
Glassware
Projector & screen
Speakers (pair)
Cash register
Outdoor picnic tables (used)
Misc. decoration budget (pictures, etc.)
Misc. cleaning products & oils
Children’s play area (painted ply, toys)
TOTAL FURNISHINGS COST

Cost per Unit
$6,000
$2,449
$200
$4,437.66
$419
$172.49
$124.99
$169.99
$249.99
$85
$120
$500
$189
$129
$140
$250
$75
$6,000
$750 est.
$149
$125
$30
$2
$365
$210
$107
$100
$1,000
$100
$300

# of Units

1
2
1
2
4
2
1
1
1
9
9
1
1
3
1
1
8
1
?
1
1
3
120
1
1
1
2
1
1
1

Items Description: Opening Stock
Alcohol (beer, wine, mead & cider)
Used books

Cost per Unit
$2,000
$4,000

# of Units
1
1

Total Line Item Cost
$6,000
$4,898
$200
$8875.32
$1,676
$344.98
$124.99
$169.99
$249.99
$765
$1,080
$500
$189
$387
$140
$250
$600
$6,000
$750
$149
$125
$90
$240
$365
$210
$107
$200
$1,000
$100
$300
$38,086.27
Total Line-Item Cost
$2,000
$4,000
11

Page 14 of 51

Attachment 1. Business Assistance Grant Application Form - Our Third Space

Sodas, kombucha, tea, coffee, creamer

$500
TOTAL COST

$500
$6,500

Signage
Primary exterior sign (above front porch)
Secondary exterior sign (above entrance door)
Chalkboard, internal signage budget

Cost per Unit
$500
$450
$400
TOTAL COST

# of Units
1
1
?

Total Line-Item Cost
$500
$450
$400
$1,350

Permits, Licenses, Insurance
Liquor liability insurance, 1 year
OLCC Limited Sales license
State business LLC registry
Veneta business registration license
Initial advertising budget

Cost per Unit
$900 est.
$450
$100
$25
$500
TOTAL COST

# of Units
1
1
1
1
1

Total Line-Item Cost
$900
$450
$100
$25
$500
$1,975

Cost per Unit

# of Units

Total Matching Funds Requested:
Total Project Costs (Requested Grant Expenses + Matching Expenses):

$45,911.27

Total Line Item Cost

$22,955
$45,911.27

Page 15 of 51

Attachment 1. Business Assistance Grant Application Form - Our Third Space

Project Description

Provide a brief description and timeline of your project.
Our Third Space is a hybrid of a community bookstore and traditional public house dedicated to
strengthening an interest in literacy, reducing social isolation, and creating a warm, inclusive gathering
place for local residents of all ages. Through affordable access to used books, diverse and/or educational
entertainments, club events and a cozy social environment, O.T.S. will provide a vital “third place” where
community members can read, relax, and socialize. In collaboration with existing food carts already
parked outside, O.T.S. would serve “soft alcohol” (beer, wine, mead and cider) options for lunch and
dinner patrons, as well as a variety of non-alcoholic options like tea, coffee, craft sodas, kombucha, and
other family-friendly fare.
Timeline to get the business open is 2 months after renovation/construction is finished on the Attic
building. Ideal timeline is July 1st or August 1st.

Project Costs
Please detail your project costs, and how grant funding is expected to be used.
The majority of the project costs will be furnishing the store and stocking it with the initial stock
of books and beverages, with a small portion of additional funding requested for signage and initial
permits/insurance. Details of each of the items I am requesting grant funding support on are listed
in the above section titled “Project Cost Estimate.”

Page 16 of 51

Attachment 1. Business Assistance Grant Application Form - Our Third Space

Only complete this portion if applying for the Business Grant Program
Business Grant Program

Demonstration of Need

Please demonstrate your project’s level of need for grant funding through the
City. Businesses must demonstrate that they are not able to fund a project through traditional

means or that funding a project through traditional means would be cost prohibitive.

I am currently an unemployed local father funding the development of this business with the last
of years of personal savings. My previous self-employment as a seasonal gig worker and event
producer does not provide me with access to traditional lines of credit which are based on predictable
earnings. This significantly diminishes my options for traditional sources of funding.
“Help me Obiwan-Veneta! You are my only hope!”

Expected Outcome

Please describe the all expected benefits and outcome of this project, both in
the short and long term.
My hopeful outcome for the project (which I detailed more in my attached business plan) is to
create steady local employment for myself, my wife, and future employees of this new business,
while creating a social and cultural hub for the city of Veneta’s residents to gather, celebrate, and
unwind together. I believe very strongly that the presence of a good bookstore is of lasting importance
to that community, and I would like to provide that for Veneta.

14
18

Page 17 of 51

Attachment 2. Our Third Space Business Plan

OUR THIRD SPACE LLC
BUSINESS PLAN
Jordan Mackay, Owner (541) 991-9281
Our Third Space: 24993 West Broadway
Veneta, OR 97487

15
20

Page 18 of 51

Attachment 2. Our Third Space Business Plan

Our Third Space: Veneta’s Bookstore & Public House
Executive Summary
Business Name: Our Third Space Bookstore & Public House
Business Structure: Limited Liability Company (LLC)
Location: Veneta, Oregon
Industry: Retail (Used Books), Food & Beverage (Beer, Wine, Cider, NA Drinks), Events &
Community Space
Business Stage: Startup
Our Third Space Bookstore & Public House is a 900 sq ft community-centered bookstore and
beverage bar designed to serve as Veneta’s “third place” — a welcoming environment outside
home and work where people gather, read, connect, and participate in local culture. The business
combines curated used books, on-premise beer/wine/cider service, non-alcoholic beverages, and
small-scale events such as trivia, music nights, book clubs, and private rentals.
Veneta lacks a dedicated bookstore and has limited community gathering spaces. Our Third
Space fills this gap by offering a warm, inclusive, multi-use environment that supports literacy,
local arts, and social connection.
Funding Request: $22,955 from a combination of the City of Veneta’s Business Grants
Program and Signage Grant Program.
The business is financially viable with conservative revenue projections of $63,000 in Year 1,
growing to $74,844 by Year 3, and a positive net operating income each year. The requested
$22,955 grant will support startup inventory, fixtures and equipment.
The Concept
Our Third Space Bookstore & Public House (henceforth shorthand referenced as O.T.S.) will
hopefully become a community destination unlike any other in Veneta, Oregon.
Our Third Space is a hybrid of a community bookstore and traditional public house dedicated to
strengthening an interest in literacy, reducing social isolation, and creating a warm, inclusive
gathering place for local residents of all ages. Through affordable access to used books, diverse
and/or educational entertainments, club events and a cozy social environment, O.T.S. will
provide a vital “third place” where community members can read, relax, and socialize. In
collaboration with existing food carts already parked outside, O.T.S. would serve “soft alcohol”
(beer, wine, mead and cider) options for lunch and dinner patrons, as well as a variety of nonalcoholic options like tea, coffee, craft sodas, kombucha, and other family-friendly fare.
Our hybrid model — part used bookstore, part public house — will hopefully generate
sustainable revenue while supporting mission-driven programs such as reading groups, author
events, musician jam sessions, and community storytelling nights. There will also be a small

Page 19 of 51

Attachment 2. Our Third Space Business Plan
indoor children’s play area to encourage family recreation for local parents who would like to
enjoy a social environment without needing to leave young children home.
Our intention is to continue growing and investing in the nuances of the atmosphere and
environment until time spent at O.T.S. is a highlight of a customer’s week. The more
technological the world becomes, the more people are nostalgically drawn to simpler times.
While Veneta continues to make admirable progress in functional city development, there is still
a notable absence of indoor spaces devoted to community gathering and no physical presence of
a bookstore at all. It is my personal belief that a community without a proper bookstore is lacking
something subtle but irreplaceable, for the thinking mind needs even more recreation than the
physical body does. Our Third Space intends to be such a place: where a person who wishes to
refresh their thoughts and connect with fellows will find much inspiration and good cheer!
Background
The founder and owner of Our Third Space, Mr. Jordan Mackay, has been a successful tavern
owner for many years. His first venture —called Oberon’s Traveling Tavern— has been pouring
libations at festivals and special events in the Pacific Northwest since 2010. His second venture
was to open Oberon’s Tavern in Ashland, OR in 2013: a Shakespearean/fantasy themed bar and
restaurant that is still there to this day, (under new ownership, as Jordan moved to the
Veneta/Crow area in 2016).
The name Our Third Space is a reference to the work of famous sociologist Ray Oldenburg, who
coined the label of a “third place” to describe those gathering spaces outside of home and work
that are essential to the function of a heathy society. Buried in the name of Our Third Space is
also the nerdy inside-joke reference that this will be the third tavern-like project for its
proprietor.
The Company
The focus of Our Third Space will be to provide a uniquely memorable new & used bookstore
supported by a drinking, dining and socializing experience. This bookstore/public house will be
located in the rear third of the building known as The Attic, that was purchased by the Smith
family and is currently under renovation.
O.T.S. will also include a performance stage for local theatrical, educational and musical
performers, encouraging the involvement of the community and providing entertainment and
community functions throughout the year. There will be game nights, trivia nights, free movies,
crafts clubs, book clubs, and other private social functions within a general gathering space that
will be available for rent.
O.T.S. will serve a blend of popular tap beers and ciders accented by a collection of rare
historical beers, ciders, and honey meads for the more adventurous palate. We will also offer a
compilation of local wines, craft sodas, and other N.A. beverages. These offerings will be
frequently updated for seasonal variations and to reflect the changing market of consumer
interest.

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Attachment 2. Our Third Space Business Plan

The long-term goal of O.T.S. is to become an essential outlet for the community of Veneta (and
surrounding smaller communities) to gather, and to provide additional support to the efforts of
Veneta’s city planners to have a lively enough city center and nightlife options that locals no
longer have to always travel to Eugene and Springfield to find satisfying entertainment and
leisure activities.
Market Analysis
The business operates at the cooperative intersection of three individually viable industries:
• Used books (resilient, low-cost inventory, strong margins)
• Craft beer/wine/cider (high-margin, experience-driven)
• Community event spaces (high demand in small towns)
Local Market: Veneta, Oregon
• Population: ~5,000
• Growing commuter community for Eugene (20 minutes away)
• Limited bookstore options
• Limited non-bar social spaces
• Strong demand for arts, culture, and community events
Target Customers
• Adults 21–100 seeking a quiet, comfortable place to read or socialize
• Remote workers
• Students and educators
• Local artists, musicians, and book clubs
• Families seeking alcohol-optional spaces
• Event renters (birthdays, meetings, clubs)
Frankly speaking, the market for book lovers on its own is a shrinking trend rather than an
expanding one. Traditional book reading and literacy in general is on the decline. The rise of
kindle, audiobook options, and digital mega-stores like Amazon.com has further diminished the
economic survivability of traditional bookstores, particularly small local ones. I have no illusions
that trying to convince the residents of Veneta to reverse that trend is going to be an easy or
financially inspiring project. That said, it is my personal belief that no experience in life can
replace the particular joy of browsing a used bookstore to find whatever printed story treasures
are hidden there. There are few afternoons I remember so fondly as those spent sipping coffee in
a bookstore café while reading from an actual book. Those hours spent unplugged from phones
and digital entertainments enliven my mind and enrich my appreciation for living. I believe I am
not alone in this, and I am willing to build a local business to bet on that belief.
We are also living in an age where the lure of an old bookstore can be uplifted and financially
supported by a good selection of coffee/tea, alcohol imbibements, snacks, and open tables for
study and socializing. The presence of books in such an environment encourages folks to slow
down and browse or read, which further encourages the purchase of additional beverages and
snacks. And nothing encourages the nostalgic enjoyment of reading books like a drink or two! It

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Attachment 2. Our Third Space Business Plan

is my hope and expectation that by combining the best elements of a used bookstore, a
performance stage and a friendly watering hole into one experience, that enough of a local
market exists to support the long-term survival of this project.
Financials
The whole project is one large social experiment to see what kind of culture exists in Veneta
comprised of those who do not often frequent other drinking establishments like Crazy Al’s. My
prerogative in the design of this project with long-term success in mind is to reduce the expense
of getting it launched to that happy minimum where a classy and welcoming atmosphere is
created without the high-end financial investment of purchasing everything new. We will open
with a selection of only used books, will be purchasing as much used equipment and inventory as
possible, and make creative reuse and repurposing the central focus of our decorating efforts. My
projection/goal is to spend less than $50,000 to get the doors open and to create a long-term lease
with the Smith family for an affordable and sustainable rental rate.
The markup on used books and alcohol are both quite high when it comes to resale on bulk
purchase: the average used book can be sold at a 50%-1,000% markup of purchase price, and
“soft” alcohol sells at a 200-500% markup in a tavern environment, depending on the type of
alcohol. By combining an affordable rent with low product overhead costs, and diversifying sales
between beverages, snacks, book associated merchandise, books, and private rentals of the space
for events, I am confident about creating a viable business model.
Going forward, I will further be emphasizing reinvestment of income towards upgrade and
expansion rather than profit taking, funding growth slowly and internally and allowing for a
stable base to build a legacy business on. Sources of outside investment will be limited to sums
that are currently being sought from business growth matching funds by the city of Veneta. The
seed money to create this business has been saved up over the last six years as personal cash
meant to finance this project.
Funds Sought
As traditional bank loans are not an option, and SBA loans are currently hampered by emerging
federal trends, it is my hope to seek matching funding through the City of Veneta’s Business
Grants Program and Signage Grant Program. Total funds sought through those two programs are
predicted to be somewhere in the $20k-$25k range. Of the monies sought, the vast majority will
go toward the purchase of equipment, furnishings and signage. Remaining monies will be
directed toward securing business licenses, permits, and insurance.
Note: There are no permanent leasehold improvements that are a part of the funds being sought. I
have committed a personal share of $2,000 to assist in building a stage into the Attic building,
but all other furnishings, including the bar itself, are a part of Our Third Space and unaffiliated
with the attic building or any other associated businesses owned or under lease to the Smith
family. If the business ever decided to move to a different location in Veneta, everything but the
stage would move with it.

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Attachment 2. Our Third Space Business Plan

Competitive Position
The establishments in Veneta that already serve coffee, tea and other N/A drinks are either
traditional restaurants, drive-through kiosks, or are peopled and supported by an existing crowd
of loyal locals that are unlikely to adjust their habits to accommodate the presence of a new
business until after closing hours of their current hangout spots. There are two local bars, both of
which appeal to a very specific clientele. There are no bookstores, and no indoor performance
stages.
Management Team
The current management would be the business owner Jordan Mackay and his wife Zyla
Stephens.
Management Responsibilities:
• Book purchasing & curation
• Beverage service & compliance
• Event coordination
• Marketing & community partnerships
• Financial management
Once the business is established to the point where it can support additional staffing, they will be
hiring a part-time marketing and events coordinator, as well as at least two locals to help tend the
store.
The Future
Our Third Space intends to lease the 900 sq. ft. space available at the rear of “The Attic” building
in Veneta. This location is a central hub in the area that Veneta is currently developing into a
pedestrian-friendly downtown.
O.T.S. will establish itself by focusing on becoming a popular mainstay as a cultural gathering
spot for locals. Our vision for the future is to strengthen community connection and become an
integral part of the movement to create a community hub for Veneta, while expanding access to
(and reigniting appreciation for) traditional literature; reducing technology-based feelings of
social isolation by creating a welcoming “third space” where people can explore meaningful
social connection, read, and celebrate special events.
Values
•

Accessibility: Books and community spaces should be available to everyone.

•

Belonging: People thrive when they have a place to gather without judgment or time
pressure to finish a purchase and depart.

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Attachment 2. Our Third Space Business Plan

•

Literacy: Reading is a lifelong tool for empowerment, imagination, and opportunity: a
tool which is currently being diminished by societal trends towards digital entertainments
and escapism.

•

Community: An accessible place to build new friendships over shared interests and
intellectual conversations reduces isolation and improves well-being.

•

Family Friendly Gathering Spot: Parents who wish to participate in a social setting will
have a place to bring their kids to read and play while they themselves get to interact with
other adults and enjoy a snack and drink.

•

Simplicity: An analog, low-tech traditional environment encourages presence and
connection, and allows for the preservation of those fading elements of culture that were
much stronger in America before the housing boom that followed the Second World War.
This created the suburban city environment we currently have, and removed the presence
of walkable neighborhood drinking and socializing establishments that are so necessary
for healthy communities to thrive.

Start-Up Tangible Assets
O.T.S. start-up assets include a previously purchased collection of thematic decorations,
furnishings and accoutrements, as well as access to milled timber and recycled-use wood for
building custom bookshelves. The Smith family has also generously agreed to waive rent costs
associated with the buildout phase of opening the business. $10,000 in liquid capital has also
been set aside to support the start-up phase of the business through the tumultuous first six
months of operation.
Start-Up Intangible Assets
Intangible assets include my personal business acumen from 24 years of working in the alcohol
sales industry as a manager, bartender and previous bar owner, and a pre-existing client base
from a solid local reputation in the industry that will transfer over to a physical location in
Veneta.
Marketing/Advertising
A community-friendly enterprise tends to attract the majority of its business through word of
mouth from satisfied customers. That said, particularly in the first three years, additional
advertising can help enormously. Promotional efforts for Our Third Space will focus on
consistent presence in the following local markets:
• Carefully targeted local ads on Facebook, organized through a broadcast support platform
like Hubspot.
• Consistent local radio ads, particularly through public access radio stations like 92.7
KOCF.
• Souvenir bookmarks handed out to new customers with a discount promotion and a
schedule of recurring event nights printed on them.

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Attachment 2. Our Third Space Business Plan

•
•
•

Membership in the Veneta-Fern Ridge Chamber of Commerce.
Cross-promotional efforts with local businesses who would like to participate in a
Community Health and Happiness Alliance.
Seasonal promotions

Brand Positioning: a cozy, inclusive, community-driven third space where the best of books,
events and beverages all come together.
Marketing Channels
• Local partnerships (schools, artists, authors)
• Event programming
• In-store promotions
• Loyalty program for frequent readers
Customer Retention
• Monthly themed events
• Book club memberships
Summary of Financial Projections
Three-Year Pro Forma
• Year 1 Revenue: $63,000
• Year 2 Revenue: $68,040
• Year 3 Revenue: $74,844
• Year 1 Net Income: $17,355
• Year 2 Net Income: $19,697
• Year 3 Net Income: $23,336
12-Month Cash Flow (Year 1)
• Average monthly revenue: $5,250
• Average monthly COGS: $1,153
• Average monthly operating expenses: $2,650
• Average monthly net income: $1,447
Break-Even Analysis
• Monthly fixed costs: $2,650
• Weighted average COGS: 22%
• Break-even revenue: $3,397/month
Financial Strengths
• Low overhead
• High-margin product mix
• Strong community demand
• Positive cash flow from Month 1
Adjustment in Expenses Years Two and Three
As revenue increases from a stabilizing local base of patronage and expanded advertisement and
event-based knowledge of Our Third Space to Eugene and other communities around Veneta, it
is the intention of the owners to reduce their own payroll hours by hiring additional Veneta
residents as support staff. Those staffing efforts will be based on financial viability from growth.

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Attachment 3. Financial Pro Forma

Items Description: Décor/Equipment

Cost per Unit

Bar countertop and backbar/shelving (used)
Undercounter draft dispensers/refrigerators
Desk (used)
Large corner booths (seat 10)
24” small booths
Small booth tables
24” round table
30” round table
36” round table
Table chairs
Reading chairs
Standard booth set (used)
Standard booth table
Pedestal tables
Ornate salvage door
Leather couch (used)

$6,000
$2,449
$200
$4,437.66
$419
$172.49
$124.99
$169.99
$249.99
$85
$120
$500
$189
$129
$140
$250

Bar stools (used)
Custom bookcases (built onsite)
Additional lighting (tables/small spotlights)
Hand sink for bar (used)
Commercial coffee machine (used)
Glass racks (used)
Glassware
Projector & screen
Speakers (pair)
Cash register
Outdoor picnic tables (used)
Misc. decoration budget (pictures, etc.)
Misc. cleaning products & oils
Children’s play area (painted ply, toys)

$75
$6,000
$750 est.
$149
$125
$30
$2
$365
$210
$107
$100
$1,000
$100
$300
TOTAL COST

# of
Units
1
2
1
2
4
2
1
1
1
9
9
1
1
3
1
1

Total Line-Item Cost

8
1
?
1
1
3
120
1
1
1
2
1
1
1

$600
$6,000
$750
$149
$125
$90
$240
$365
$210
$107
$200
$1,000
$100
$300
$36,086.27

$6,000
$4,898
$200
$8875.32
$1,676
$344.98
$124.99
$169.99
$249.99
$765
$1,080
$500
$189
$387
$140
$250

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Attachment 3. Financial Pro Forma

Leasehold Improvements
Stage construction/flooring
Items Description: Opening Stock
Alcohol (beer, wine, mead & cider)
Used books
Sodas, kombucha, tea, coffee, creamer
Signage

Cost per Unit

# of
Units
1

Total Line-Item Cost

# of
Units
$2,000
1
$4,000
1
$500
1
TOTAL COST

Total Line-Item Cost

Cost per Unit

Total Line-Item Cost

TOTAL COST
Cost per Unit

# of
Units
Primary exterior sign (above front porch)
$500
1
Secondary exterior sign (above entrance door)
$450
1
Chalkboard, internal signage budget
$400
?
TOTAL COST
Permits, Licenses, Insurance
Liquor liability insurance, 1 year
OLCC Limited Sales license
State business LLC registry
Veneta business registration license
Initial advertising budget

Cost per Unit
$900 est.
$450
$100
$25
$500
TOTAL COST

# of
Units
1
1
1
1
1

$2,000

$2,000
$4,000
$500
$6,500

$500
$450
$400
$1,350
Total Line-Item Cost
$900
$450
$100
$25
$500
$1,975

TOTAL ESTIMATED COST OF STARTUP: $47,911.27
Note: The amounts listed above either represent confirmed cost analysis, or are an estimated
budget to contain unnecessary over-expenditure. This list also serves as a summery of
projected assets. Owner is invested 100% personal equity over assets.
Three Year Pro Forma: Details of Profit/Loss Projection and COGS
Normally it is not my style to enlist the support of AI in writing anything, but considering the
scarcity of related local sales data and incredible speed and thoroughness at which AI can gather
and cross-reference data-based predictions, I decided to enlist the help of Microsoft’s Copilot in
determining some of these projections.
The instructions I provided Copilot were as follows:
“Based on Census Business Builder data and available local sales data for Veneta, Oregon,
please provide me with your best-guess estimate on product and service sales for a small local
used bookstore that sells used books, beer, wine, cider and other non-alcoholic beverages, as
well as private party rental of the whole space for $100/hr.

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Attachment 3. Financial Pro Forma

The approximate square footage of the space is 900 sq ft. We will be hosting events such as
music, trivia, and book clubs. The business is a startup, so I have no average daily customer
count. Please estimate conservatively. Books are purchased at $1-$5 each and resell at $7-$25
each. Soda and all non-alcoholic beverages are at 50% markup. Beer is costed at $1/pint and
resells at an average of $7/pint. Cider cost is $1.30 a pint and sells at $8/pint. Wine has a 200%
markup of purchase price, ranging from $6/bottle cost to $25/bottle cost. Alcohol is only onpremise consumption. Private rental of the space is available four days a week and rents for
$200-$400/night. Can you please plot the data you have just given me in such a way that it
shows a three-year pro-forma of initial first year sales, and moderate estimates for growth in
years two and three? Can you please estimate related costs of goods sold to support this data?”
Below is a conservative, data-informed estimate for a 900 sq ft startup used bookstore,
beer/wine/cider/soda bar & event space in Veneta, Oregon, using Census Business Builder retail
benchmarks, local population/traffic patterns, and typical small-town bookstore/bar performance.
Because Veneta is a small market (~5,000 population) with modest foot traffic, these estimates
lean intentionally conservative.
Conservative Revenue Estimates for a 900 sq ft Used Bookstore + Beverage Bar in Veneta,
Oregon:
Executive Summary (Conservative)
• Estimated annual revenue: $85,000–$145,000
• Primary drivers: Books (40–55%), Alcohol (25–35%), Non-alcoholic beverages (5–
10%), Events & rentals (10–20%)
• Break-even feasibility: Achievable with modest foot traffic (15–30 customers/day
average)
Local Market Context (Veneta, Oregon)
• Population: ~5,000
• Nearest large city: Eugene (20 min)
• Veneta has limited bookstore competition and moderate alcohol competition, mostly
convenience/liquor stores.
• Event spaces are scarce, giving your $100/hr rental a strong niche.
Step-by-Step Revenue Estimates
1. Used Book Sales
• Conservative foot traffic: 10–25 customers/day
• Book purchase rate: 30–50% of customers
• Average sale price: $12–$18 (based on your $7–$25 range)
• Estimated book units/day: 5–12
Estimated Revenue
Metric
Low Estimate High Estimate
Books/day $60–$120
$120–$220
Books/month $1,800–$3,600 $3,600–$6,600

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Attachment 3. Financial Pro Forma

Metric
Low Estimate High Estimate
Books/year $22,000–$43,000 $43,000–$79,000
Conservative annual estimate: $25,000–$45,000
2. Beer, Cider & Wine Sales (On-Premise Only)
• 20–40% of customers buy alcohol
• Average drinkers/day: 3–10
• Average drinks per customer: 1.5
• Average revenue per drink:
o Beer: $7
o Cider: $8
o Wine (glass equivalent): ~$9–$12
Estimated Revenue
Metric
Low Estimate High Estimate
Alcohol/day $30–$80
$80–$180
Alcohol/month $900–$2,400
$2,400–$5,400
Alcohol/year $11,000–$29,000 $29,000–$65,000
Conservative annual estimate: $12,000–$25,000
3. Soda & Non-Alcoholic Beverages
• 10–20% of customers buy NA beverages
• Average NA customers/day: 2–6
• Average price: $3–$4.50 (50% markup)
Estimated Revenue
Metric
Low Estimate High Estimate
NA/day $6–$18
$18–$30
NA/month $180–$540
$540–$900
NA/year $2,000–$6,500 $6,500–$11,000
Conservative annual estimate: $2,000–$5,000
4. Private Party Rentals ($100/hr)
• Available 4 days/week
• Realistic bookings: 2–4 per month
• Average rental: 2–3 hours
• Revenue per rental: $200–$300
Estimated Revenue
Metric
Low Estimate High Estimate
Rentals/month $400–$600
$600–$1,200
Rentals/year $4,800–$7,200 $7,200–$14,400
Conservative annual estimate: $5,000–$8,000
Total Conservative Annual Revenue Estimate

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Attachment 3. Financial Pro Forma

Category
Conservative Range
Books
$25,000–$45,000
Alcohol
$12,000–$25,000
Non-Alcoholic $2,000–$5,000
Rentals
$5,000–$8,000
Total
$44,000–$83,000
Additional Revenue Boosters (Not Included in Estimates)
• Trivia nights (drink spikes of 20–40%)
• Music events (higher alcohol sales)
• Book clubs (increased book turnover)
• Merch (stickers, shirts, mugs)
Moderate (more realistic) range:
$85,000–$145,000/year
However, in order to support estimates that are low enough to accurately predict financial
solvency even in an unexpectedly lean business climate, all following financial models will be
built on very conservative estimates.
Three-Year Pro Forma Summary
Revenue Projections
• Year 1: $63,000
• Year 2: $68,040
• Year 3: $74,844
Cost of Goods Sold (COGS)
• Year 1: $13,845
• Year 2: $14,953
• Year 3: $16,448
Net Operating Income
• Year 1: $17,909
• Year 2: $20,955
• Year 3: $25,219
12-Month Cash Flow Projection (Year 1)
Monthly Revenue (Averaged)
• Books: $2,917
• Alcohol: $1,500
• Non-Alcoholic: $292
• Rentals: $542
• Total Monthly Revenue: $5,250
Monthly COGS (Averaged)
• Books: $583
• Alcohol: $375

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Attachment 3. Financial Pro Forma

•
•
•

Non-Alcoholic: $195
Rentals: $0
Total Monthly COGS: $1,153

Monthly Operating Expenses
• Rent: $2,000
• Utilities: $0
• Insurance: $75
• Licenses & Permits: $45
• Marketing: $150
• Inventory Replenishment: $167
• Accounting: $75
• Miscellaneous: $138
• Total Monthly OpEx: $2,650
Monthly Net Income
• Net Operating Income: $1,447
Monthly Cash Flow
Beginning cash for Year 1: $10,000
Month
Beginning Cash Net Cash Flow Ending Cash
July 2026
$10,000
+$1,447
$11,447
August
$11,447
+$1,447
$12,894
September $12,894
+$1,447
$14,341
October
$14,341
+$1,447
$15,788
November $15,788
+$1,447
$17,235
December
$17,235
+$1,447
$18,682
January 2027 $18,682
+$1,447
$20,129
February
$20,129
+$1,447
$21,576
March
$21,576
+$1,447
$23,023
April
$23,023
+$1,447
$24,470
May
$24,470
+$1,447
$25,917
June
$25,917
+$1,447
$27,364
July 1, 2027 —
—
$27,909
Note: Although displayed as a steady inflow for the purposes of estimation, there will likely be
seasonality adjustments based on weather and tourism.
High-traffic months
• June–August (summer tourism, events, foot traffic)
• November–December (holiday book buying, gatherings)
Moderate months
• March–May (spring events, book clubs)
• September–October (back-to-school, early fall)

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Attachment 3. Financial Pro Forma

Low-traffic months
• January–February (post-holiday slump)
The reason those adjustments are not included in the chart is because we could find no data for
how seasonality affects downtown Veneta via foot traffic or shopping trends.
Break-Even Analysis
Fixed Monthly Costs
• Rent: $2,000
• Utilities: $0
• Insurance: $75
• Other Fixed Costs: $575
• Total Fixed Costs: $2,650
Variable Costs
• Weighted Average COGS: 22%
Break-Even Revenue
• Break-Even Point: $3,397 per month
Monthly Burn Rate & Runway (Year 1)
Period: July 1, 2026 → July 1, 2027
Because Our Third Space is profitable each month, our “burn rate” is a negative burn rate — we
are adding cash, not burning it.
Monthly Gross Burn Rate (Cash Outflows)
Category
Monthly Amount
COGS
$1,153
Operating Expenses $2,650
Gross Burn Rate $3,803 per month
Monthly Net Burn Rate (Net Cash Flow)
Item
Amount
Total Revenue $5,250
Gross Burn
–$3,803
Net Cash Flow +$1,447 per month
Runway Analysis (If Revenue Dropped to Zero)
This is the “worst-case scenario” runway.
Starting Cash
Runway =
Gross Burn Rate
10,000
= 2.63 months
3,803
Worst-Case Runway: 2.6 months of survival with no revenue at all.
Runway Under Current Performance Analysis

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Attachment 3. Financial Pro Forma

•

Since Our Third Space LLC is projected as cash-flow positive, the cash balance grows
every month and the runway is considered unencumbered. Projections show an increase
of $1,447 per month × 12 = $17,364 per year. (Annual NOI is $17,909 — the small
difference is rounding.)

Cash Position Over Time
Month
Ending Cash
Start
$10,000
3 months ~$14,341
6 months ~$18,682
12 months $27,909
Monthly Burn Rate & Runway Table
Month
Gross Burn Net Cash Flow Ending Cash Runway Remaining (Worst Case)
July
$3,803
+$1,447
$11,447
3.0 months
August
$3,803
+$1,447
$12,894
3.4 months
September $3,803
+$1,447
$14,341
3.8 months
October
$3,803
+$1,447
$15,788
4.1 months
November $3,803
+$1,447
$17,235
4.5 months
December $3,803
+$1,447
$18,682
4.9 months
January
$3,803
+$1,447
$20,129
5.3 months
February
$3,803
+$1,447
$21,576
5.7 months
March
$3,803
+$1,447
$23,023
6.1 months
April
$3,803
+$1,447
$24,470
6.4 months
May
$3,803
+$1,447
$25,917
6.8 months
June
$3,803
+$1,447
$27,364
7.2 months
July 1, 2027 —
—
$27,909
7.3 months
Note: Runway remaining increases because your cash balance increases.
Summary
Monthly Gross Burn Rate: $3,803
Monthly Net Burn Rate (Net Cash Flow): –$1,447 (cash-flow positive).
Worst-Case Runway (no revenue): 2.6 months.
Actual Runway (with revenue): Infinite — the business is not burning cash.
Ending Cash After Year 1: $27,909
COGS
Here is a conservative Cost of Goods Sold (COGS) model that aligns with revenue estimates.
This estimate is grounded in the pricing and cost structure provided, plus typical industry ratios
for used bookstores and small beverage bars.
Assumption

Value

Page 33 of 51

Attachment 3. Financial Pro Forma

Books COGS %
Alcohol COGS %
Non-Alcoholic COGS %
Rentals COGS %
Year 2 Revenue Growth
Year 3 Revenue Growth
Annual OpEx Inflation

20%
25%
67%
0%
8%
10%
5%

Line Item
Revenue - Books
Revenue - Alcohol
Revenue – Non-Alcoholic
Revenue - Rentals
Total Revenue
COGS - Books
COGS - Alcohol
COGS – Non-Alcoholic
COGS - Rentals
Total COGS
Gross Profit
Rent
Utilities
OpEx - Insurance
OpEx - Licenses & Permits
OpEx - Marketing
OpEx – Telephone/Internet
OpEx - Accounting
OpEx – Miscellaneous
Total Operating Expenses
Net Operating Income

Year 1 Year 2 Year 3
35000
37800
41580
18000
19440
21384
3500
3780
4158
6500
7020
7722
63000
68040
74844
7000
7560
8316
4500
4860
5346
2345
2533
2786
0
0
0
13845
14953
16448
49155
53087
58396
24000
24000
24000
0
0
0
900
1000
1100
550
600
650
1800
2000
2200
1440
1512
1587
900
1020
1140
1656
2000
2500
31246
32132
33177
17909
20955
25219

Cash Flow Statement — Year 1
Beginning Cash
Balance
Net Cash from
Operations
Net Cash from
Financing Activities
Ending Cash Balance

$10,000
$17,909
TBD
$27,909

Balance Sheet — End of Year 1
(Including Startup Costs)

Page 34 of 51

Attachment 3. Financial Pro Forma

ASSETS
Current Assets
Cash
$27,909
Inventory (Opening) $6,500
Prepaid Permits,
$1,975
Licenses & Insurance
Total Current Assets $36,384
Fixed Assets (Capitalized
Startup Equipment & Décor)
All items purchased for
long-term use (furniture,
fixtures, bar equipment,
seating, lighting, bookcases,
etc.) are capitalized.
Fixed Asset
Amount
Category
Décor &
$38,086.27
Equipment
Signage
$1,350
Total Fixed Assets $39,436.27
(No depreciation is applied in
Year 1 for simplicity.)
TOTAL ASSETS
𝟑𝟔, 𝟑𝟖𝟒 + 𝟑𝟗, 𝟒𝟑𝟔. 𝟐𝟕
= 𝟕𝟓, 𝟖𝟐𝟎. 𝟐𝟕
LIABILITIES
Total Liabilities

OWNER’S EQUITY
Equity Item
Amount
Owner Capital
(cash + asset
$57,911.27
purchases)
Retained Earnings
$17,909
(Year 1 NOI)
Total Equity
$75,820.27
Check: Assets = Liabilities +
Equity
𝟕𝟓, 𝟖𝟐𝟎. 𝟐𝟕 = 𝟎 + 𝟕𝟓, 𝟖𝟐𝟎. 𝟐𝟕

Page 35 of 51

Attachment 3. Financial Pro Forma

The updated balance sheet reflects the full investment required to launch the business, including
furniture, fixtures, bar equipment, seating, lighting, custom bookcases, signage, and opening
inventory. These startup assets total $39,436.27 and are capitalized as long-term fixed assets.
Opening inventory of $6,500 is recorded as a current asset, along with $1,975 in prepaid permits,
licenses, and insurance. With no outstanding liabilities and a profitable first year, the business
closes Year 1 with $75,820.27 in total assets and $27,909 in cash, demonstrating strong liquidity
and a solid equity position. This financial structure provides a stable foundation for future
growth.
Break-Even Analysis
Listed below are the elements that lead to the break-even analysis for Our Third Space, LLC.
Total Startup Investment
The total initial investment required to open the business is:
Category
Amount
Décor & Equipment
$38,086.27
Signage
$1,350.00
Opening Inventory
$6,500.00
Prepaid Licenses/Insurance $1,975.00
Opening Cash Reserve
$10,000.00
Total Startup Investment $57,911.27
Monthly Operating Performance (Year 1)
Item
Monthly Amount
Total Revenue
$5,250
Cost of Goods Sold
–$1,153
Operating Expenses
–$2,650
Net Operating Income $1,447
Operating Break-Even Point
Operating break-even revenue is calculated using fixed monthly expenses and the weighted
average COGS rate of 22%.
2,650
Break‑Even Revenue =
= 3,397
1 − 0.22
Metric
Amount
Monthly Operating Break-Even Revenue $3,397
Actual Monthly Revenue
$5,250
Monthly Margin Above Break-Even
$1,853
The business exceeds operating break-even by 54.5% each month.
Total Break-Even Including Startup Investment
To recover the full initial investment:

Page 36 of 51

Attachment 3. Financial Pro Forma

57,911.27
= 40 months
1,447
Metric
Value
Total Break-Even Time 40 months
Equivalent
3 years, 4 months
Break-Even Date
November 2029

Financial Visualizations
Revenue Breakdown (Years 1–3)
• Books remain the largest revenue source.
• Alcohol sales show steady growth.
• Rentals and non-alcoholic beverages contribute consistently.
COGS Trend
• COGS increases proportionally with revenue.
Net Income Trend
• Net income grows steadily over the three-year period.
Assumptions
• Revenue growth: 8% in Year 2, 10% in Year 3
• Operating expense inflation: 5% annually
• COGS percentages remain constant

Page 37 of 51

Attachment 3. Financial Pro Forma

The stacked bar visualization shows how each revenue stream (books, alcohol, non-alcoholic
beverages, and rentals) grows over three years using the conservative Year 1 baseline and
modest Year 2 (8%) and Year 3 (10%) growth assumptions. The following data is based on the
lowest end of already conservative predictions.
What the Chart Shows
• Books remain the largest revenue driver, growing from $35k to over $41k by Year 3.
• Alcohol sales grow steadily, reflecting increased event attendance and customer
familiarity.
• Non-alcoholic beverages stay a small but stable contributor.
• Rentals provide a meaningful supplemental revenue stream, especially as awareness
grows.
Lastly:
Strangely, (but still appreciated), after all the estimations provided by the AI program that
assisted me with preparing these financial models, the AI chose to weigh in on a personal note
for the business I was describing. These are its final thoughts on the subject:
Final Thoughts
“Your concept fits Veneta extremely well: low competition, strong community culture, and a lack
of cozy event-friendly spaces. Even using very conservative numbers, my analysis shows a viable
path forward. And, with regular events, you could easily reach a moderate range of financial
success within the first three years of business.”

Page 38 of 51

Attachment 6. Supplemental Financials

Requested Addendums for Resubmission of Funding Application
7/28/26
As per request, here are the additional addendums/clarifications brought up by council members
in response to a previous application session.
The first request was for a projected revenue stream and COGS that extended past the initial
three years to a simplified five-year projection. Those numbers are recorded below.
Updated 5-Year Financial Projection Table
Line Item
Year 1 Year 2 Year 3 Year 4 Year 5
Revenue - Books
$35,000 $37,800 $41,580 $45,738 $50,312
Revenue - Alcohol
$18,000 $19,440 $21,384 $23,522 $25,874
Revenue – Non-Alcoholic $3,500 $3,780 $4,158 $4,574 $5,031
Revenue - Rentals
$6,500 $7,020 $7,722 $8,494 $9,343
Total Revenue
$63,000 $68,040 $74,844 $82,328 $90,560
COGS - Books
COGS - Alcohol
COGS – Non-Alcoholic
COGS - Rentals
Total COGS

$7,000 $7,560 $8,316 $9,148 $10,063
$4,500 $4,860 $5,346 $5,881 $6,469
$2,345 $2,533 $2,786 $3,065 $3,372
$0
$0
$0
$0
$0
$13,845 $14,953 $16,448 $18,094 $19,904

Gross Profit

$49,155 $53,087 $58,396 $64,234 $70,656

Rent
$24,000 $24,000 $24,000 $24,000 $24,000
Utilities (Corrected)
$2,400 $2,400 $2,400 $2,400 $2,400
OpEx - Insurance
$900 $1,000 $1,100 $1,200 $1,300
OpEx - Licenses & Permits $550 $600
$650
$700
$750
OpEx - Marketing
$1,800 $2,000 $2,200 $2,400 $2,600
OpEx – Telephone/Internet $1,440 $1,512 $1,587 $1,666 $1,749
OpEx - Accounting
$900 $1,020 $1,140 $1,260 $1,380
OpEx – Miscellaneous
$1,656 $2,000 $2,500 $3,125 $3,906
Total Operating Expenses $33,646 $34,532 $35,577 $36,751 $38,085
Net Operating Income

$15,509 $18,555 $22,819 $27,483 $32,571

Note: rent and utilities are shown as an unchanging commodity because it is the intention of
Jordan Mackay to sign a fixed five-year lease with the Smith Family.
The second request was for an updated Matching Grant Request that shows expenses that have
occurred so far in the developing project. As of the time this paper is written, I am 7-10 days
from beginning to move furnishings into the Attic building, so purchasing of furniture and
equipment is already well underway. Below is the adjusted list of initial projections for expenses

Page 39 of 51

Attachment 6. Supplemental Financials

tied to the grant request. This list has been updated with purchases that have already been made
(marked in red), and initial expense projections have been adjusted with the prices I paid for the
items. These items are a part of the list that I am seeking matching grant funds for.
FINANCIAL DETAILS FOR PROJECTED STARTUP COSTS
Items Description: Décor/Equipment
Bar countertop and backbar/shelving (used)
Undercounter draft dispensers/refrigerators
Desk (used)
Large corner seating (Used, seats 10)
Small booths set, used
Small booth tables
24” round table
30” round table
36” round table
Table chairs
Reading chairs
Standard booth set (used)
Standard booth table
Pedestal tables
Ornate salvage door
Leather couch (used)
Bar stools (used)
Custom bookcases (built onsite)
Additional lighting (tables/small spotlights)
Hand sink for bar (used)
Commercial coffee machine (used)
Glass racks (used)
Glassware
Projector & screen
Speakers (pair)
Cash register
Outdoor picnic tables (used)
Misc. decoration budget (pictures, etc.)
Misc. cleaning products & oils
Children’s play area (painted ply, toys)
Specialty “opera box” bookcase
Refurbishment cost of used bar, booths (paid
labor estimate)

Cost per Unit
$6,300
$2,449
$250
$1,000
$400
$172.49
$124.99
$169.99
$249.99
$85
$120
$500
$189
$129
$140
$250
$75
$6,000
$750
$149
$125
$30
$2
$365
$210
$107
$100
$1,000
$100
$500
$750
$1,000

TOTAL COST

# of
Units
1
2
1
1
1
2
1
1
1
9
9
1
1
3
1
1
8
1
4
1
1
3
120
1
1
1
2
1
1
1
1
1

Total Line-Item Cost
$6,300
$4,898
$250
$1000
$400
$344.98
$124.99
$169.99
$249.99
$765
$1,080
$500
$189
$387
$140
$250
$600
$6,000
$750
$149
$125
$90
$240
$365
$210
$107
$200
$1,000
$100
$500
$750
$1,000

$29,234.95

Page 40 of 51

Attachment 6. Supplemental Financials

Items Description: Opening Stock
Alcohol (beer, wine, mead & cider)
Used books
Sodas, kombucha, tea, coffee, creamer
Signage

Cost per Unit

# of
Units
$2,000
1
$4,000
1
$500
1
TOTAL COST

Total Line-Item Cost

Cost per Unit

Total Line-Item Cost

Cost per Unit
$703.92
$450
$100
$25
$1,500
TOTAL COST

# of
Units
1
1
1
1
1

$2,000
$4,000
$500
$6,500

$500
$450
$400
$1,350
Total Line-Item Cost
$703.92
$450
$100
$25
$1,500
$2,778.92

TOTAL ESTIMATED COST OF STARTUP: $39,863.87
Adjusted Grant Funds Sought: $19,000 est.

Page 41 of 51

BUSINESS ASSISTANCE COMMITTEE
AGENDA ITEM SUMMARY
TITLE/TOPIC: Signage Assistance Program Application for Our Third Space
Meeting Date: April 24, 2026
Department: Economic Development

Staff Contact: Jacob Thode
Email: [email protected]
Telephone Number: 541-935-2191

ISSUE STATEMENT

Should the BAC recommend Our Third Space’s $1,305 Signage Assistance Grant Program
application be approved by City Council?
BACKGROUND
Our Third Space has requested grant funding up to $1,350 through the City of Veneta’s Signage
Assistance Program. See Attachment 1. This program aims to encourage new and vibrant signage
within the City’s downtown district and throughout Veneta’s Urban Growth Boundary (UGB).
On April 24th, the committee denied the application due to the incomplete status of the "Attic"
property, and for uncertainty regarding project timeline. The BAC requested that the Applicant,
Jordan Mackay, reapply when the the building occupancy was within 30-60 days, along with
requesting more financial projects covering 3-5 years of revenue and expense projections. See
Attachment 2.
Our Third Space is a start-up operation that intends to create and operate a hybrid community
bookstore and traditional public house within the City’s downtown area. They will be renting
space at 24993 West Broadway Property, otherwise known known as the “Attic.” The project
intends to create 1-2 jobs at launch, with the aim to increase employment to five positions in the
long-term. The business also intends on creating a space that supports the already existing food
truck environment, while adding a "third place” in the downtown area where community
members may purchase alcohol, drinks, and relax inside.
The applicant is seeking grant funding to match funding for a primary and secondary exterior
sign, to be located at the front porch and entrance door, respectively.
The City Council allocated $15,000 to all of their redevelopment programs for fiscal year
2025-26, which includes the Signage Assistance Grant Program. The program allows for matching
grants up to $2,500 for the purpose of replacing or constructing new permanent signage. Our
Daily Bread was awarded $10,000 for façade improvement in September of 2025. Up to $5,000 is
still available for funding within the current fiscal year.
The Urban Renewal Agency has allocated funds to promote and incentivize commercial and retail
development, assist projects that provide a service that is underserved or does not exist, and for
the removal of urban blight. Ho Ho’s application states the need for the project is to redevelop
the property, contribute to a vibrant downtown aesthetic, and enhance the restaurants appeal to
customers.
Staff is seeking the committee’s guidance on whether Our Third Space’s $1,350 grant request
50
should be approved in full, partially approved for a specified amount, or denied at this time. 52

Page 42 of 51

ELATED DOCUMENTS
Veneta Signage Assistance Program Application Packet
COMMITTEE OPTIONS
1. Recommend approval of Our Third Space’ $1,350 Signage Grant Application to

Veneta City Council.
2. Recommend approval of Our Third Space’ $1,350 Signage Grant Application for up to
[STATE AMOUNT] to Veneta City Council.
3. Deny Our Third Space’ $1,350 Signage Grant Application.
ADMINISTRATOR’S RECOMMENDATION
1. Recommend to the Veneta City Council approval of Our Third Place’s $1,350 Signage
Grant Application.
SUGGESTED MOTIONS
1. I make a motion to recommend to the Veneta City Council approval of Our Third

Place’s $1,350 Signage Grant Application.
ATTACHMENTS
1. Our Third Place Signage Grant Application

Page 43 of 51

Attachment 1. Signage Grant Application Form

Telephone Number.
Business: N/A
Personal: (541) 991-9281
Fax: N/A

Primary Contact: Jordan Mackay
Street Address: 24487 Bolton Hill rd.
City: Veneta

State: OR

Zip: 97487

Proposed Business Address (If different from above)
Street Address: 24993 W. Broadway
City: Veneta

State: OR

Name
Jordan Mackay

Title

% of Ownership

Owner

100%
%
%
Total: 100%

AFFILIATES

(List all business concerns in which the Applicant Company/individuals listed in the ownership section above have
any ownership. Attach current financial statement and tax return.)

Company Name

Owner (Applicant Company or Individuals)

% of Ownership

N/A

Page 44 of 51

Attachment 1. Signage Grant Application Form

Yes

No
X

X
X

Façade Improvement
Program

MATCHING FUNDS
What matching funds will you commit to this effort?
Source: Personal Savings: Build-out of business
Source: Personal Savings: Starting Capital
Source:
Source:
Source:

Vibrant Veneta
Streetscape Improvement
Program

Amount: $25,000
Amount: $10,000
Amount: $
Amount: $
Amount: $
Total Funding: $35,000
Not Secured at this time:
$0

X Yes

If yes, please
estimate # of jobs

3-4

Page 45 of 51

Attachment 1. Signage Grant Application Form

Project Cost Estimate

Successful grant reimbursements will be based off of the project’s estimated costs.
Please provide as much detail as possible as to all expected costs of your project.

Project Name:

Cost per Unit
$6,000
$2,449
$200
$4,437.66
$419
$172.49
$124.99
$169.99
$249.99
$85
$120
$500
$189
$129
$140
$250
$75
$6,000
$750 est.
$149
$125
$30
$2
$365
$210
$107
$100
$1,000
$100
$300

# of Units

1
2
1
2
4
2
1
1
1
9
9
1
1
3
1
1
8
1
?
1
1
3
120
1
1
1
2
1
1
1

Items Description: Opening Stock
Alcohol (beer, wine, mead & cider)
Used books

Cost per Unit
$2,000
$4,000

# of Units
1
1

Page 46 of 51

Attachment 1. Signage Grant Application Form

Sodas, kombucha, tea, coffee, creamer

$500
TOTAL COST

$500
$6,500

Signage
Primary exterior sign (above front porch)
Secondary exterior sign (above entrance door)
Chalkboard, internal signage budget

Cost per Unit
$500
$450
$400
TOTAL COST

# of Units
1
1
?

Total Line-Item Cost
$500
$450
$400
$1,350

Permits, Licenses, Insurance
Liquor liability insurance, 1 year
OLCC Limited Sales license
State business LLC registry
Veneta business registration license
Initial advertising budget

Cost per Unit
$900 est.
$450
$100
$25
$500
TOTAL COST

# of Units
1
1
1
1
1

Total Line-Item Cost
$900
$450
$100
$25
$500
$1,975

Cost per Unit

# of Units

Total Matching Funds Requested:
Total Project Costs (Requested Grant Expenses + Matching Expenses):

$45,911.27

Total Line Item Cost

$22,955
$45,911.27

Page 47 of 51

Project Description

Page 48 of 51

Only complete this portion if applying for the City’s Redevelopment Grants
Redevelopment Grants

Small Project Narratives
Please explain how the project enhances the aesthetic appeal of the area to
visitors and residents. (For any signage, describe your ideas for the sign)
The two signs I would be applying for are a large outdoor sign for above street-facing porch area,
and a more traditional “pub-style” sign for the large rollup door that will be installed in the food
cart area.

Please explain the importance/significance of this project. Preference will be given
to projects that can demonstrate an increase in commercial space or to the employment base
within Veneta, create family wage jobs (ie. $20/hr) and/or reduce trips to Eugene or other
nearby communities.

This project will create 2-5 jobs for Veneta locals at “family wage” income levels, and dramatically
Increase opportunities for strengthening community through a local socialization hub.

If applicable, describe how the project improves pedestrian or bike traffic.
A local bookstore/public house always draws more local foot traffic. So, if Veneta intends to
expand the potential of a real strollable “downtown” area, then stores like Our Third Space that
encourage a comfortable social atmosphere are an important draw to increased foot traffic.

Page 49 of 51

Attachment 2. Supplemental Financials

$7,000 $7,560 $8,316 $9,148 $10,063
$4,500 $4,860 $5,346 $5,881 $6,469
$2,345 $2,533 $2,786 $3,065 $3,372
$0
$0
$0
$0
$0
$13,845 $14,953 $16,448 $18,094 $19,904

Gross Profit

$49,155 $53,087 $58,396 $64,234 $70,656

$15,509 $18,555 $22,819 $27,483 $32,571

Page 50 of 51

Attachment 2. Supplemental Financials

Cost per Unit
$6,300
$2,449
$250
$1,000
$400
$172.49
$124.99
$169.99
$249.99
$85
$120
$500
$189
$129
$140
$250
$75
$6,000
$750
$149
$125
$30
$2
$365
$210
$107
$100
$1,000
$100
$500
$750
$1,000

TOTAL COST

# of
Units
1
2
1
1
1
2
1
1
1
9
9
1
1
3
1
1
8
1
4
1
1
3
120
1
1
1
2
1
1
1
1
1

$29,234.95

Page 51 of 51

Attachment 2. Supplemental Financials

Items Description: Opening Stock
Alcohol (beer, wine, mead & cider)
Used books
Sodas, kombucha, tea, coffee, creamer
Signage

Cost per Unit

# of
Units
$2,000
1
$4,000
1
$500
1
TOTAL COST

Total Line-Item Cost

Cost per Unit

Total Line-Item Cost

Cost per Unit
$703.92
$450
$100
$25
$1,500
TOTAL COST

# of
Units
1
1
1
1
1

$2,000
$4,000
$500
$6,500

$500
$450
$400
$1,350
Total Line-Item Cost
$703.92
$450
$100
$25
$1,500
$2,778.92

TOTAL ESTIMATED COST OF STARTUP: $39,863.87
Adjusted Grant Funds Sought: $19,000 est.

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