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Innovia Foundation distribution will fund Greenacres Park soccer pad, city told
Summary
Innovia Foundation informed the city that the Bert J. Porter endowed fund made a first distribution to beneficiaries; Spokane Valley Parks will receive roughly 40% and used part of the initial draw to add a soccer sport pad to Greenacres Park Phase 2.
City parks staff told the Spokane Valley council on May 20 that the Innovia Foundation has distributed the first payment from the endowed Bert J. Porter fund, enabling a new element at Greenacres Park Phase 2.
Parks and Recreation Director John Battelle said the city learned in March that the fund was ready for distribution and that the first draw was "a little over $60,000." He said that amount allowed the parks department to add an asphalt sport pad for a second mini soccer pitch to the Greenacres Phase 2 construction contract, leveraging an additional donation from the Rave Foundation. Battelle said the pad is expected to be completed this fall.
Shelley O'Quinn, CEO of Innovia Foundation, described the Bert J. Porter Foundation as an endowed donor fund administered by Innovia that will make annual distributions in perpetuity. O'Quinn said roughly 40% of the fund's annual distribution is designated for the City of Spokane Valley for parks projects; other beneficiaries named in staff materials include Scraps Hope Foundation, Millwood Community Church, the Spokane Heritage Museum, Spokane Valley Scouting and local school districts.
Council members asked whether the city must draw distributions annually; O'Quinn said the city receives a letter each year and may elect to receive the distribution or leave it invested to grow for a larger future project. Councilmembers thanked the Porter family and Innovia for the gift.
Staff said the Greenacres Park Phase 2 construction contract already included pricing for the sport pad but not budget; the Innovia distribution allowed the city to add the pad to the contract.
