Millennium Park Funding Snag Sets Project Back $1 Million After Donor Backs Out

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

A funding snag with a donor involved in the Millennium Park project has those who support the park looking to fill a big funding gap.

They are now missing $1 million in pledge money from a local businessman who couldn’t follow through with the donation.

Gainey Transportation, a company based in West Michigan, had promised deferred payments of $200,000 over a five-year period to help fund projects like the trails at the park.

However, after they declared bankruptcy in 2008 and were taken to court by Wachovia Bank for millions of dollars, things changed.

“That million dollars is still part of the project we need to go back and recoup,” said Mary Swanson, Kent County Assistant Administrator.

Swanson said around the first of the year, Harvey Gainey alerted Kent County that he wouldn’t be able to make those payments.
“It was at the end of 2012, he said to us, ‘I can’t defer this anymore. I have to let you know I am unable to make the pledge payments.'”, said Swanson.
The county will set out to raise money in the coming months to make up for the missing million.  Swanson doesn’t believe it will be a hard sell because west Michigan is generous.

Those interested in donating to the park fund can contact Kent County directly or contact the Kent County Park Foundation at the link below.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s