KALAMAZOO, MI (WKZO AM/FM) – City of Kalamazoo officials have come up with a scheme to turn one-time COVID-19 relief dollars into long term financing for the city, but they say it will take some hard choices.
Foundation For Excellence Manager Steve Brown has proposed replacing their applicable FFE funding for the next four years with American Rescue Plan Act money. He said the $28 million diverted could go back into the trust and estimates it could grow to $100 million by 2040.
Both Foundation For Excellence and ARPA would use the Imagine Kalamazoo battle plan for tackling the city’s toughest issues and there is plenty of overlap. Brown says problems like affordable housing, youth and economic development and infrastructure won’t be solved anytime soon.
But City Commissioner Chris Preadel is skeptical. He believes small investments in people now could also result in big rewards later.
Brown compared propoal to a person planning for retirement, with all the inherent speculation, wisdom, and sacrifice that requires.
The City of Kalamazoo has already allocated about $10.5 million of the $39 million they are getting for COVID-19 relief. Brown is proposing that some, if not almost all of what remains be diverted.
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