$70M Donation To Kalamazoo, Michigan To Create A Foundation To Fund New Social Service & Community Projects

The City of Kalamazoo will be getting $70 million from unnamed private sources to fix its budget problem, cut local property taxes, and fund "aspirational" social and community improvement projects. The city will create a Foundation for Excellence, which will be funded by donations from area philanthropists, institutions, and residents. Officials expect the foundation will be fully-funded by 2020.

The city plans to use the Foundation funding to cut its general property tax levy by 38%, from 19.27 mills to 12 mills starting in January 2017, which will reduce the tax levy on a home valued at $100 . . .