Re: $5 million windfall

["John Danahy" <JDANAHY@turbonet.com>]

Thank you for requesting our suggestions.

I would like to suggest that the $5 million dollars be placed into a
foundation that would generate ongoing funding for Parks and Rec for this
community.  Surely, we could easily spend $5 million dollars rather quickly,
but if we invest it wisely generating a return then many projects now and
twenty years from now could be funded.

For example,
1) we could spend some of the money and implement the Joseph Street plan for
new baseball, softball, and soccer fields and have the fields ready in two
years.  Or
2) we could invest the money in a foundation that returns 6% a year, and use
the ongoing return to fund Joseph street, getting the playfields done in
five to six years.

Under the first idea, we would spend $1.5 million of the 5 million, but
under the second idea we would only spend the interest maintaining the
initial 5 million.  This type of foundation would also provide incentive to
others wishing to provide for youth activities.  An optimistic look into the
future would show use twenty five years from now having fields on Joseph
street, a new ice rink, new and safer equipment, a possible new
basketball/volleyball facility and a foundation that had grown to $10
million dollars and was returning $600,000 to the community every year.  We
might even have a self sustaining parks and rec department that no longer
relies on property tax dollars for operating expenses. Whoa self reliant
government!!

Also ongoing funds could easily be used to guarantee that every child in the
area has access to activities irregardless of financial constraints.

John

John and Laurie Danahy
jdanahy@turbonet.com
----- Original Message -----
From: Priscilla Salant <psalant@moscow.com>
To: <vision2020@moscow.com>
Sent: Wednesday, March 22, 2000 4:48 PM
Subject: $5 million windfall


> Visionaries,
>
> I'm interested in your opinion.
>
> What is the best process for deciding how to use the generous bequest from
> Bob Hamilton?
>
> And, given that the city must use the money for youth and for parks and
> recreation, what are the highest priority projects?
>
> Thanks, Priscilla Salant
>