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Council reviews Community Foundation grants program and proposed $974,000 endowment to support home repairs
Summary
Council discussed allocating $50,000 to the Community Foundation of Greater Clemson for mini grants and a proposed community action endowment with an initial target of roughly $974,000 designed to generate sustainable annual funding for home repairs and low/moderate-income housing supports.
Staff proposed two related items: a $50,000 agreement to the Community Foundation of Greater Clemson to administer mini grants to qualifying nonprofits, and a community action endowment intended to sustainably fund home repairs and other supports for low- and moderate-income residents. Andy told council an endowment of about $974,000 would generate roughly $50,000 annually at typical payout rates once matured, though he said it will take several years to reach that level.
Council members discussed prioritizing the endowment’s early years to strictly fund home repair and aging-in-place work rather than more generic public infrastructure. Andy and council members suggested keeping the initial scope narrow (home repairs, ramps, similar modifications) until the endowment produces larger payouts that could be used for matching grants tied to federal programs.
