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Park Board accepts $1 million endowment for Active Adult Center; $150,000 earmarked for buses
Summary
The board accepted a $1 million gift to create an endowment at the Johnson County Community Foundation, approved $150,000 of the gift for two buses and agreed to rename the game room in honor of the donor.
The Franklin City Park Board on Oct. 16 accepted a $1 million donation to the city’s Active Adult Center and ratified an endowment agreement with the Johnson County Community Foundation that will hold the principal.
Under the agreement presented to the board, $150,000 of the donated funds will be applied to purchase two buses for the Active Adult Center. The remainder will serve as an endowment; staff said the endowment is expected to generate approximately $32,000 annually for center…
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