KALAMAZOO, MI (WKZO AM/FM) — The City of Kalamazoo has passed an agreement with the Stryker-Johnston Foundation to continue funding the Foundation for Excellence program over the next three years.
The updated agreement of $98-million dollars covers 5-fiscal years from 2017 through 2022 but about $55-million dollars represents the new funds for the upcoming years.
Commissioners praised the new agreement and hope this will help them fund the foundation with a future endowment. The city needs to raise about a half-billion dollars for an endowment.
“I appreciate it, it gives us some room to dream and act on our dreams,” Commissioner David Anderson said, “Thanks for bringing this to us, and look forward to more great things coming.”
Over $2 million of the funding will be allocated for affordable housing projects.
“We have a long way to go here, there’s a lot of people still hurting in this community, but I think that Foundation for Excellence is just a gift of God, just a wonderful, wonderful thing,” Commissioner Don Cooney added.
Commissioner Jack Urban hopes that the new data will attract more donors.
“Now we have some evidence of how this innovative funding program is actually working,” Urban said.
The Foundation for Excellence will also use funding to pay for projects relating to the Farmer’s Market, as well as programs for youth.
