Northwestern College has dedicated $100 million to help metropolis providers and packages in its hometown of Evanston, In poor health., the college introduced Monday. The proposed 10-year settlement, which nonetheless requires ultimate approval, will focus totally on “fairness, reasonably priced housing, training, financial improvement and group engagement.”
Key parts of the draft settlement embody:
- Tripling to $3 million per 12 months Northwestern’s contributions to the Metropolis’s Good Neighbor Fund.
- Awarding no less than $2 million a 12 months in monetary help to Evanston highschool college students and dealing to extend the variety of native college students admitted to Northwestern.
- Distributing $1 million complete every year to native not-for-profit organizations, faculties, faith-based establishments and group organizations.
- Contributing $250,000 a 12 months for the revitalization of downtown Evanston.
- Redeveloping Ryan Subject, Northwestern’s soccer stadium, as a business live performance venue. The challenge is anticipated to generate practically $660 million for the town, together with greater than 2,900 jobs and $12 million in direct charges.
“Northwestern has all the time strived to be an excellent neighbor for all of Evanston,” mentioned Dave Davis, Northwestern’s senior govt director of neighborhood and group relations. “We’re thrilled for the chance to carry this multimillion-dollar funding to Evanston to help the longer term improvement, power and resiliency of our native financial system and workforce. The proposed settlement demonstrates our accountability and steadfast dedication to the betterment of the Evanston group that all of us name residence.”
Northwestern is the newest college to extend monetary contributions to its host metropolis to assist compensate for its nonprofit standing, which exempts establishments from paying property taxes.
