Potential Foundation Gains TractionPosted: Updated:
The Porter County Council is moving forward with plans to create a foundation to deal with proceeds from the $159 million sale of the county hospital in 2007. Our partners at The Times of Northwest Indiana report the county is looking to form a committee that would set up the foundation. Plans call for the council and the Porter County Board of Commissioners to jointly approve a seven-member panel to create the framework.
Those involved could then potentially be appointed to the foundation's board.
The proposal still needs commission approval, which could happen next month.
The foundation attracted the support of the council in May as a way to increase interest earnings on the proceeds. Those funds could help cover government expenses and revenue losses.
Source: The Times of Northwest Indiana