Much about the Good Luck Fund—a private foundation with lofty public goals—remains uncertain. How will it select businesses for the properties it buys? Can those enterprises succeed in a market in which labor is scarce and housing expensive? Will residents open their wallets to support the fund, which could quickly burn through founder Chris Hulls’s initial $15 million donation?
For all the questions surrounding the enterprise, one thing is crystal clear: Point Reyes Station residents want it to succeed.
Last Wednesday, about 250 of them packed into the former Station House Café building and cheered on Mr. Hulls as he sketched out his vision for the fund, whose mission is to preserve historic downtown properties, attract and retain key businesses and sustain the community’s 20th-century ranch-town vibe.
People spilled out of the building’s dimly lit interior and into the courtyard, where the garden was abloom. Mr. Hulls, a 41-year-old tech entrepreneur whose style is straightforward and self-deprecating, was startled by the size of the crowd.
“We were expecting maybe a couple dozen people,” he said. “I just started preparing for this about five minutes ago, so I’m kind of winging it. The idea was just to get people together and get feedback.”
A procession of people came forward to ask questions and share their ideas for transforming two of the fund’s recent purchases—11180 Highway 1, the former home of the Station House Café, which moved across the street—and the Inverness property that housed Vladimir’s Czech Restaurant, which closed two years ago.
Attendees’ ideas ran the gamut, from restaurants to a community theater to a plant nursery.
“I have some personal ideas about what to do with Vladimir’s, but not everybody agrees with them,” said Tom Pillsbury, an Inverness resident. “Some of my friends would like it to be a breakfast spot, but I think it would be a perfect Mexican restaurant. That’s my two cents.”
Rich Clarke of Point Reyes Station proposed a community swimming pool, a place that could unite West Marin’s burgeoning elderly population with younger community members.
“The kids could learn to swim and play water polo, and the adults could do water aerobics,” he said. “The health of our community, at this point in our lives, is dependent upon how active we stay and how much we put into taking care of ourselves.”
Mr. Clarke’s suggestion was greeted with boisterous applause.
Other people proposed installing a mix of businesses at the former Station House, which sits on a large lot. Lynette Le Mere, who owns a Santa Barbara catering business and recently moved full time to Inverness Park, said the space was big enough to accommodate a variety of food-oriented enterprises.
“For this place, and Vladimir’s, a lot of people with good ideas for food and cooking could come together and participate in community,” she said. “We have lots of delicious ideas.”
Amid all the brainstorming, people also raised questions and concerns.
Michel Venghiattis, a professional food consultant from Nicasio, stressed that small, start-up enterprises might need some sort of economic boost to succeed.
“I’ve been an entrepreneur all my life,” he said. “I went bankrupt once, so I know how tough business can be. I think what you’re doing is wonderful, but I think it’s important to remember that this is a small town, and the amount of income that can be generated from any business is very limited. Somehow, a structure needs to be built so that rents are reasonable so that folks with local businesses can make it.”
Mr. Hulls said the fund would take a businesslike approach to selecting prospective tenants, examining business plans to ascertain their strength and sustainability. While the fund would seek enterprises that could support themselves over the long haul, it might subsidize rents up front.
Cas Adler-Ivanbrook, an Inverness Park resident, inquired about the structure of the fund and the procedures it would follow moving forward.
“You’ve told us that you’re going to seek out proposals, get feedback and make decisions,” he said. “What is the decision-making process? Who gets a say in what the decision process is going to be? Do you have a structure in mind for that? Would it be just one person or a group of people?”
For now, Mr. Hulls said, the fund is operating as a private foundation in which one person can make quick decisions, but its procedures could evolve moving forward. In addition to soliciting community business proposals, it plans to appoint citizen committees to review ideas that come in, drawing on local expertise to assess them. The details will be ironed out as events unfold.
“My model is, you jump of a cliff, and you build the plane on the way down,” said Mr. Hulls, who grew up in Point Reyes Station and is the founder and C.E.O. of the location-sharing app Life360. “We really don’t have too much of a plan. We’re figuring it out as we go. It’s going to be a little chaotic and messy, but we’re just going for it.”
Other audience members pointed out that the lack of affordable housing has made it difficult for existing businesses to staff their operations, with many employees driving from Petaluma or Santa Rosa.
Buddy Faure, 23, who grew up in Inverness and would like to spend his life here, asked whether Mr. Hulls had considered building affordable housing.
“It’s important is to recognize how many people end up growing up here and then end up leaving and never coming back,” he said. “It upsets me, you know. I want to stay here my whole life, but it’s very hard to see a way forward.”
Mr. Hulls suggested that housing could possibly be built in conjunction with an enterprise at the former Station House site, which has ample septic capacity and a substantial parking lot out back. But he said that the local community land trust is better equipped to take on housing challenges while the foundation focuses on attracting suitable businesses.
Mr. Hulls said the fund has no fixed notions about what those businesses should be, but he did offer ideas about general characteristics they might have. He pointed to the Old Western Saloon, another fund acquisition and a classic dive bar that caters to ranchers, construction workers and landscapers as wells as the tourists who pass through town.
“To be honest, a little rough and tumble and weird is something I want to preserve,” he said to applause. “It seems like there’s been a lot of support for that. The eccentrics and weirdos make this town.”
Some of the ideas put forward at the meeting would duplicate or compete with existing businesses in town, including new restaurants, a gallery, a nursery and a performance space. Giving the newcomers subsidies could put longtime establishments at a disadvantage, Ken Taymor, an Inverness Park resident, pointed out. “How are you going to make sure you don’t cannibalize existing businesses?” he asked.
Mr. Hulls said he had conferred with local business owners, some of whom were nervous about the prospect of new competition, but he found that most of them welcomed the fund’s efforts. “The general theme I’ve heard is that vibrancy builds vibrancy, and having half a downtown dead is bad for everybody,” he said.
For more information or to submit ideas, go to https://goodluckfund.org
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