KALAMAZOO (WKZO AM/FM) — The first meeting of the entire board of the Foundation for Excellence was a meet-and-greet, a chance to elect leaders, hand out materials and prepare for a serious orientation process set to begin next week.
It’s all uncharted territory.
No city has ever tried what Kalamazoo is about to attempt, to create a trust fund to help finance city operations, and Mayor Bobby Hopewell says other cities will be watching to see how it works.
Hopewell says the effort to meet the goal of raising a half-billion dollars to create a perpetual source of revenue for the city has begun by a separate fundraising committee.
The job of the board will be to manage and protect that resource.
