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Floyd County reviews plan for recovery ecosystem fund at Community Foundation with initial $400,000 gift and $300,000 pass-through
Summary
County staff briefed supervisors on a proposed Community Foundation fund to pool unused opioid-ecosystem allocation dollars and donations; an initial gift of just over $400,000 (about $300,000 pass-through) was described and an advisory council would guide allocations.
County officials briefed the Floyd County Board of Supervisors on a proposed recovery ecosystem fund to be housed at the local Community Foundation that would pool unspent funds from the opioid ecosystem and outside donations for future allocations to qualifying organizations.
According to the county briefing, the initial gift described in the packet is a little over $400,000; roughly $300,000 of that initial sum is characterized as pass-through funds that could be drawn down for particular projects. The fund agreement in the packet follows the Community Foundation’s standard terms for creating a new fund (similar to family or designated funds) and would establish an advisory council of signatories that include county administrators and the City of Radford manager.
The fund’s stated purpose in the draft paperwork is to support qualified charitable or educational organizations or units of government that provide services to treat, prevent or reduce opioid or other substance use disorders. Disbursements would not go directly to individuals but would instead be requested and administered through agencies or nonprofits that demonstrate how proposed activities meet the OAA (opioid abatement/assistance) fund rules referenced in the draft agreement.
County staff noted that Floyd County represents about 6% of the total OAA allocation share for this region, which determines the county’s proportionate access to the pooled fund. Supervisors were told an advisory council would be formed (county and City of Radford administrators were named on the signatory list in the draft) and that the fund would follow the Community Foundation’s fee schedule for annual charges against principal.
