KALAMAZOO, MI (WKZO AM/FM) – A local foundation associated with the City of Kalamazoo continues to make a multi-million dollar impact on the community.
Kalamazoo’s Foundation for Excellence was created to tackle infrastructure, racism, housing, generational poverty and other costs that require long term funding.
Manager Steve Brown says it was a big year for the FFE, reaching the half-billion dollar goal for the foundation trust.
By the end of this year the foundation will have invested $157 million in Kalamazoo, with just over half has been spent on a tax break that goes straight into the pockets of property owners, giving the city a competitive tax rate with surrounding communities.
The proposed 2022 Foundation for Excellence budget is set at $26 million and will be part of the overall city budget, which the new Commission after it is sworn in next week.
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