vision2020
Re: $5 million windfall
How about spending half and creating an endowment with the other half?
Spend half of the $5million on identified projects, and invest the other
half to endow a youth recreation fund. The endowment of a $2.5million
should create annual interest of at least 5% or at least $125,000 available
annually for use by the city.
Youth recreation will change in the future. It seems like creating a fund
to spend $125,000 annually forever would allow the future generations of
youth to have their needs met.
BL
>From: John Murray <mrmurray@looksmart.com>
>To: psalant@moscow.com
>CC: vision2020@moscow.com
>Subject: Re: $5 million windfall
>Date: 22 Mar 2000 16:54:22 -0800
>
>On Wed, 22 March 2000, "Priscilla Salant" wrote:
>
> >
> > Visionaries,
> >
> > I'm interested in your opinion.
>
>A recreation master plan with a series of public hearings. The master plan
>would cover a period of, say, 15 years, with review and revision after that
>time. The process would be facilitated by use of an ad hoc or appointed
>committee which would have a drop dead date to formulate the plan. A
>survey would be appropriate.
>
>The plan would be incorporated into the city's comprehensive plan and any
>changes to the plan would require both Planning Commission and City Council
>approval.
>
>While this is happening, the city puts the money into a separate fund with
>stipulations that the interest and principle aren't to be touched until the
>plan is finalized. The city gets to put only the interest in their general
>fund, and only after the plan is finalized (it's motivation to finish the
>plan on time).
>
>I think the yearly Rendezvous concerts could be expanded and refined. They
>might provide revenue to put back into the fund.
>jm
>
>
>___________________________________________________________________
>Get smart - get your FREE email at http://email.looksmart.com
>
______________________________________________________
Get Your Private, Free Email at http://www.hotmail.com
Back to TOC