Re: $5 million windfall

["J. Sullivan" <jsullivan@moscow.com>]

Splendid idea!!!

Janesta Sullivan

John Danahy wrote:

> 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
> >