Knight Foundation provides $8 million for Akron revitalization project
December 28, 2012
The John S. and James L. Knight Foundation recently committed $8 million to a project in Akron, Ohio,
that will revitalize and strengthen its University Park neighborhood. The funding will be dispersed across a number of important projects.
The lion's share of the funds - $6 million - has been earmarked as support for community engagement as the work launched by The University Park Alliance moves forward to ensure residents are actively involved in the project's direction. It will also fuel neighborhood programs that promote civic participation, such as community gardens and business associations. Another $1.8 million will be used as a low-interest loan for the University Square redevelopment project.
"This new support builds on the momentum of the last two years in creating partnerships and reengaging the community," said Eric Anthony Thomas, the alliance's executive director. "The alliance's efforts are galvanizing residents around a larger vision for the city, and engaging the next generation of neighborhood leaders who want to drive the city's future."
Foundations that support nonprofit programs year-round can use grant management software
to help board members and accountants track funds and recipients as awards are allocated.