The Truman Heartland Community Foundation (THCF) manages 15 designated funds on behalf of the City of Independence. Many of the funds were established in the 1980s and 1990s. In some cases, the original projects for which funds were donated are already compete and fund balances have dropped to low levels. Staff worked with THCF to determine which funds could reasonably be closed or consolidated to reduce administrative oversight yet also meet the original intent of the donors. The resolution specifies a recommendation for each fund and requests action from THCF to make the changes.
In addition, the resolution authorizes the city manager to establish a new designated fund at THCF for the purpose of collecting private funds for the proposed new farmer's market structure and related improvements on the Independence Square. The Independence Civic Council approved a lead gift of $5,000 to establish this fund. The Rotary Club of Independence has approached the City about additional fundraising for this cause, and staff is currently working with the Rotary Club on a related donor agreement.