KALMAZOO, Mich. (WOOD) — Work to set up Kalamazoo’s new Foundation for Excellence is progressing, with the effort close to becoming incorporated as a charitable organization independent from the city.
Funded through private donations, the Foundation for Excellence will provide cash to the City of Kalamazoo to stabilize the city’s budget, to lower its property taxes and for aspirational community projects each year.
Kalamazoo’s city attorney is meeting with attorneys representing the two principle donors Tuesday. Final documents should be provided to the Kalamazoo City Commission as soon as the end of next week.
“Then the next step would be to file the requisite paperwork with the Internal Revenue Service to get tax-exempt status,” City Attorney Clyde Robinson said.
Kalamazoo residents will see a millage reduction in their July tax bills.
The Foundation for Excellence was first proposed in July 2016.