RESOLUTION 008

WHEREAS, the primary source of investor liquidity in Black Star Co-op’s Member-Investor Shares is having the Co-op repurchase the Shares, and

WHEREAS, section 9(a)(iv) of the subscription agreement states “the Co-op’s legal obligation to repurchase the Shares will be deferred if, in the sole discretion of the Co-op’s Board of Directors, completing such repurchase would render the Co-op unable to pay its obligations as they become due,” and

WHEREAS, the Board wishes to clarify the conditions under which it would defer a repurchase of the Shares, be it

RESOLVED, by the Black Star Co-op Board of Directors, that upon receipt of a valid request by a Member-Owner for the Co-op to repurchase his/her Member-Investor Shares, the Board would defer such a repurchase only in the event that the par value of the Shares to be repurchased plus any applicable repurchase bonuses exceeds the total non-discretionary obligations of the Co-op due within the next 30 days. Examples of such obligations include but are not limited to payroll, rent, and regularly scheduled debt service.

Passed July 18, 2010 by the Black Star Co-op Board of Directors

Yes, we now have glasses with our new logo! They’ve got a heavier base and thicker glass than the last round, so they should be bit more durable.

Oh, and they look great too.

Pick one up on July 17th at the A Bite of Black Star BEER SOCIAL and we’ll have them on sale in our online store sometime next week.

On Sunday, July 11th Bar Hours with the Board will return to Nomad Bar. Nomad is is located at 1213 Corona Dr, and we’ll be there from 3:30-6:30 PM.

As you know, these events are not formal meetings, but they are a great opportunity for member-owners (and prospective new members-owners!) to come share a pint with some of our Directors and enhance the membership linkage of our Co-op.

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See you there!

With the opening of the brewpub so close you can taste it, we’re adding a special twist to this Beer Social – FOOD!

Two members of our Kitchen Team, Johnny Livesay and Michael Holland, will offer a small taste of the Rational Menu that will be offered at our brewpub. Food sales are a new addition to the Beer Social, so bring cash to fill your belly. The rest of the event will follow the formula you know and love. Please join us on Saturday, July 17 from 7-10 PM for an evening of good beer, amazing food, and co-operation.

The Beer Socials have always been a great time for member-owners to connect with one another and for future member-owners to join the Co-op, and this one will continue that tradition. As an added incentive to grow our Co-op, we’re continuing the summer membership drive. Each current member-owner who refers three (3) new people to join the Co-op, will receive a free Black Star Co-op t-shirt or hat! We’ve given out quite a few already, and many more of you are almost there, so bring a non-member friend and sign them up! Oh, and make sure they list your name on the referral line of the membership application.

For those of you that still have not joined the Co-op: you only have a couple months left to become Charter Members! We’re over half-way through construction, and the moment we open our doors the opportunity will be lost forever, so join today!

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• Map to Venue
• How a Beer Social Works

Update: This Beer Social will feature Austin’s newest brewery: Thirsty Planet! We’ll have their Yellow Armadillo Wheat and Buckethead IPA on tap to complement food selections from our Rational Menu. Be sure to come hungry AND thirsty!

It’s a big day! After much hard work by our Kitchen Team and volunteer Member-Owners, today is the first day that the world gets a peek at our draft Rational Menu.

Most everything you see will be on the menu year round, but with slight changes due to seasonality. For example, you’ll see pickled okra for most of the summer, but soon after the locally grown okra starts to become hollow and woody, it can be replaced with pickled summer squash. When the weather starts to cool off, you might not see beer-braised spare ribs, but you’ll see braised pork shoulder and the beer used for the braising might shift to the seasonal Moontower.

Everything on the menu was created to be flexible and will evolve as the seasons change and as our members give feedback. Recipes have also been designed to use as much of the whole ingredients as possible. The scraps from the chips will be made into mashed potatoes to soak up the rich sauce for the roast chicken. The ends of the carrots we shred and celery we chop for the vinegar slaw will be used for the Mirepoix in stocks and braises. There will be very little waste in our kitchen.

As for our Irrational menu, stay tuned. We have some exciting ideas that are still being tested. These are menu offerings that will be updated as often as twice a week. For example, if one of our suppliers has an extra case of figs, they might just be stuffed with blue cheese, wrapped in pancetta and grilled to perfection. Of course we would drizzle it with a sweet malt vinegar gastrique to finish it off. That’s just one idea.

If you just can’t wait to get a taste of what’s in store, you’re in luck. We’ve got A Bite of Black Star BEER SOCIAL coming up on July 17th. We’ll be modifying the usual Beer Social format to feature a couple outdoor friendly versions of items found on our Rational Menu. Be there!

Rational Menu (DRAFT)

We’re in the final push of raising capital through our offering of Member-Investor Shares. With less than $200,000 left to go, now is the time to make an investment!

A printed offering Memorandum was mailed to all member-owners back in March, and we’re continuing our campaign with phone calls and emails. However, we always love meeting our Member-Owners in person and are holding weekly Investment Q&A Forums to talk about the offering, answer questions, and sign subscriptions (bring your checkbook!).

The Investment Q&A Forums take place each Thursday from 5-7 PM. Please join us for the next forum on July 22nd at our development office, which is across the parking lot from the brewpub location at Midtown Commons. Click here for more information or give us a call at (512) 452-BEER.

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We’re in the final push of raising capital through our offering of Member-Investor Shares. With less than $200,000 left to go, now is the time to make an investment!

A printed offering Memorandum was mailed to all member-owners back in March, and we’re continuing our campaign with phone calls and emails. However, we always love meeting our Member-Owners in person and are holding weekly Investment Q&A Forums to talk about the offering, answer questions, and sign subscriptions (bring your checkbook!).

The Investment Q&A Forums take place each Thursday from 5-7 PM. Please join us for the next forum on July 15th at our development office, which is across the parking lot from the brewpub location at Midtown Commons. Click here for more information or give us a call at (512) 452-BEER.

• Facebook Event

We’re in the final push of raising capital through our offering of Member-Investor Shares. With less than $200,000 left to go, now is the time to make an investment!

A printed offering Memorandum was mailed to all member-owners back in March, and we’re continuing our campaign with phone calls and emails. However, we always love meeting our Member-Owners in person and are holding weekly Investment Q&A Forums to talk about the offering, answer questions, and sign subscriptions (bring your checkbook!).

The Investment Q&A Forums take place each Thursday from 5-7 PM. Please join us for the next forum on July 8th at our development office, which is across the parking lot from the brewpub location at Midtown Commons. Click here for more information or give us a call at (512) 452-BEER.

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The past 2 weeks have been the most exciting for us thus far. Walking in to the once barren space, has now evolved in to a pretty striking skeleton of the pub. Amazing how throughout the many phases of construction, how one’s perception of size and spatial relationships fluctuates as we go: first the space was HUGE!, then got trenched and felt smaller, then framing went up and drew our attention to the height of the walls, then as framing progressed we realized the “coziness” of certain areas we never actualized before- in a good way!

Here’s what we’ve been able to accomplish this week on the construction-end:

* Mezzanine/ brewery cold room framed
* In-wall electrical & plumbing rough
* In-wall blocking
* In-wall inspections (passed)
* Frame Furrdowns for “Event” area and above “bar”
* Overhead electrical/ mechanical/ plumbing/ gas rough
* Air handlers & condensers set on roof
* Electrical & pull wire initial set
* Hollow metal frames set
* First-side sheetrock on “behind bar” area, “dartboard” wall, and mezzanine!

In the coming weeks, we can expect wrapping up sheetrock installation, wallboard inspection, and getting the air ON! so we can begin the tape & floating for the walls!

If you are ever in the area, please don’t hesitate to “drop-in,” put on a hard-hat and take a quick tour of the space. Our internal office is across from the brewpub, within the development, in suite #3103.

Remember to sneak-a-peek of our construction progress HERE at our gallery on facebook. It is truly exciting to see what you all have contributed and continue to contribute to aid in making all this happen!!! Thank you for your continued support!

-Karinne

We’re in the final push of raising capital through our offering of Member-Investor Shares. With less than $200,000 left to go, now is the time to make an investment!

A printed offering Memorandum was mailed to all member-owners back in March, and we’re continuing our campaign with phone calls and emails. However, we always love meeting our Member-Owners in person and are holding weekly Investment Q&A Forums to talk about the offering, answer questions, and sign subscriptions (bring your checkbook!).

The Investment Q&A Forums take place each Thursday from 5-7 PM. Please join us for the next forum on July 1st at our development office, which is across the parking lot from the brewpub location at Midtown Commons. Click here for more information or give us a call at (512) 452-BEER.

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