The Kalamazoo City Commission passed a resolution approving incorporation of a new foundation, known as the Kalamazoo Foundation for Excellence (FFE), organized for the purpose of supporting and benefiting the operation and programs of the City of Kalamazoo.
The Kalamazoo Foundation for Excellence is a project of singular significance for the fiscal well-being of the City of Kalamazoo. Two lead donors initially provided $70.3 million over three years to stabilize the City’s budget, to lower the property tax rate from 19.2705 mills to 12 mills, and for $10 million of aspirational community projects annually in 2017, 2018, and 2019.
It is the objective of the FFE to raise an additional $500+ million in order to endow the FFE’s work in perpetuity.
The Bylaws and Articles of Incorporation included in Monday night’s resolution were the product of significant work by staff based on the Memorandum of Understanding between the City of Kalamazoo and the lead donors that was approved by the City Commission at its October 24, 2016 Work Session. Additional City Commission Work Sessions were held on October 24, 2016, as well as January 23, July 24, and August 7 of 2017 to thoroughly explore aspects and details of FFE’s creation and to offer extensive and open opportunities for public comment.
Numerous technical, human, and economic resources were consulted to inform the planning of the Kalamazoo Foundation for Excellence, but few will shape the FFE’s work as definitively as the citizen input cultivated by the Imagine Kalamazoo process or its resulting ten-year Strategic Vision, which was approved by the City Commission on July 17, 2017, and forthcoming Master Plan.
Information on the Kalamazoo Foundation For Excellence can be found at http://www.kalamazoocity.org/ffe.