Tuesday, April 26, 2016

Foundation ends year on positive note with assets of $933,875

Courtesy of Galena Gazette.

The Galena Foundation ended its fiscal year on Dec. 31 on solid financial footings. The organization listed assets of $933,875.

The foundation ended the year with $161,026 in its general fund and $564,167 in its permanent endowment. Other special funds include the train depot fund, $2,223; fountain project, $7,588; Grant Park cannon, $3,100; public stairs fund, $3,122; David J. Dodds Fund, $472,596; Margaret Gardner Award, $28,257; JJ O’Bel Trust, $55,164.

Marsden also noted that the Joe Miller Trust, which is not part of the foundation’s asset base, but which is used to fund projects has been a great success. He noted that the trust’s value in 2008 was $450,146 and today has a value of $550,000. Since 2009, $197,000 has been spent from the trust to support projects.

In 2016, $30,000 from the trust will be used as part of a $200,000 long-term commitment to Turner Hall.

Tuesday, April 19, 2016

Maintenance and Improvements at Grant Park

By Hillary Dickerson, Editor
Courtesy of Galena Gazette

GALENA–The plan is for Grant Park to get a bit of an update, and members of the Galena City Council appear ready to work with the Galena Foundation to make that happen.

During the Monday, April 11 city council meeting, the council unanimously initiated a project as part of the Grant Park Maintenance and Improvement Plan with the Galena Foundation.

As part of the discussion on the matter, council member Robert Hahn praised the foundation for all the work it does for the city. He felt assured that any project the foundation was involved in would be successful.

Council member Jerry Westemeier, while in agreement with Hahn on the foundation’s track record, was uncertain about funding the work since nothing was included in the 2016-17 budget for a match.

City Administrator Mark Moran explained the plan for this coming year is to get a plan in place and estimates on the work to see how much the city’s match will be.

Mayor Terry Renner pointed out that while funding is a concern, there were no costs associated with initiating the work. Projects would come back before the council as the process moves forward. Renner suggested it might be a good idea to move forward in phases, much like the work at Turner Hall, another city and foundation project, is being handled.

Charles Marsden and Ken Robb, representing the Galena Foundation, were in the audience.

During public comments, Marsden spoke about the recent tree survey the foundation funded which indicated there are 90 trees at the park, 35 of those in need of trim work, 15 removal and 15 more in need of other work.

Later in the meeting Marsden clarified that the foundation paid for the survey done by Mississippi Valley Tree Service on the trees in the fall of 2015.

Renner reminded everyone that when the city is involved and tax dollars used to fund work, the projects will need to be bid out. Marsden assured Renner that was the intention.

Marsden also emphasized the foundation has a number of funds applicable to Grant Park–the foundation and cannon funds, for example–that it plans to use for future maintenance and improvements. He is interested in working with Moran to develop a plan so that can happen.

“I think it’s a good plan working ahead,” said Renner.

Moran has broken the Grant Park projects into short term and long term efforts.

 “Like Turner Hall we have to start out with the rough work and the work needed to stabilize the park before we can get into the really substantial improvements,” the outline in the council packet explained.