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Council Accepts $250,000 Donation for Intergenerational Center; Funds To Be Used Over Five Years
Summary
The council authorized acceptance of a $250,000 donation from Age Friendly Corte Madera to support operations at an Intergenerational Center; town manager authorized to enter a donation agreement outlining a five‑year use plan and reporting.
The Corte Madera Town Council authorized Town Manager Adam to accept a $250,000 donation from Age Friendly Corte Madera on May 6 and to enter a donation agreement specifying how the funds will be used to support an Intergenerational Center over five years.
Town staff said the parties negotiated a structure in which the Corte Madera Community Foundation acted as fiscal sponsor to receive the gift, but the town will accept the funds and manage them under a direct donation agreement. The agreement would make the money available to the Intergenerational Center with an intended draw of about $50,000 per year over five years; staff said the donation would be held in a separately accounted, interest‑bearing fund and annual reporting would be required.
Town Manager Adam said the subcommittee working on the Intergenerational Center has a draft lease and that the gift will support instruction and supplies for programming; Age Friendly representatives clarified the donation is intended for instructors and supplies first, and remaining funds could support operational expenses per the agreement.
The council voted to accept the donation unanimously. Staff said additional documentation and a publicly available project page are planned and that the town and donor would return with final agreement language for execution.
Quotes in this article come from Town Manager Adam and Age Friendly representative Patty Stollier.
