KALMAZOO (WKZO AM/FM) — Kalamazoo City Commissioners have pushed back a vote on the final bylaws for the Foundation for Excellence two weeks to give citizens more time to analyze the lengthy agreement and make comment. It will also provide an extra meeting for Commissioners to explore modifications.
The basic idea of the Foundation is to create a trust fund of 400 to 600 million dollars and use earnings from the fund to adequately fund city services and operations in perpetuity, and perhaps provide funding for the pursuit of aspirational goals, like addressing generational poverty.
For now the city is operating under a $70-million dollar starter grant from the donors, which will run out in three years, under the current plan.
They have already talked with the Kalamazoo Foundation to provide support and back-office assistance for operating the Foundation.
Commissioner David Anderson says he says it’s an elegant solution that is simplicity itself, even if the execution may involve lawyers.
A few commissioners would like to see the foundation by-laws tweaked, and those will be discussed in two weeks.
Vice Mayor Don Cooney says the opportunity to help low income citizens outweighs any qualms he may have over structure, but he also appreciates having the extra two weeks toStudy the document.
Several commissioners would like to see more citizens on the 13-member foundation board, and Commissioner Matt Milcarek doesn’t like the idea of giving donors the option to make a restricted donation. He says that sounds like having strings attached, something that he has promised he would oppose.
City Attorney Clyde Robinson says that cuts both ways. Restricted funds could be designated for projects that have been identified in the Imagine Kalamazoo 2025 visioning statement that the Foundation Board should have the ability to accept.
Because it took longer than expected to publish copies of the proposed bylaws, Commissioners plan to push back a vote on the question to August 21st instead of the 7th, giving the public a full month read the recommendations and submit comments.
Copies of the agreement can now be viewed at the city’s website.
