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Foundation can take granting heat off city:councillor

A Castlegar councillor fully supports the new Community Foundation trying to secure money from the city to boost their endowment fund.

Florio Vassilakakis says how much they get is a council decision.

But he adds as the fund grows the annual investment returns will take the heat off the city in helping non-profits.

The new foundation also wants areas I and J to chip in some funding.

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If they raise between $25,000 and $50,000 in the community over a two year period the Columbia Basin Trust will match that.

That would then increase the permanent funding they can grant out each year.

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