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Land reserve better than an endowment trust
Editor: For sale, oceanfront property in Arizona.
If you believe Mayor Rick Green, then that is what he would like you to buy — ocean front property in Arizona.
Mayor Green says that council has blocked a property endowment trust. Again, not true. Council asked for a business plan for a property endowment trust and Mayor Green did not provide it.
So, what is a Property Endowment Trust? Simply, it means transferring all of the Township’s surplus lands to a third party, a trust, that is managed and governed by those chosen by Mayor Green.
What we have is a Land Reserve. It is a separate and dedicated account controlled by the mayor and council. That means that all funds received from surplus land sales and all purchases of investment land that is acquired flows through that dedicated account.
So what is the difference?
The trust would be controlled by the mayor and his cronies. The Land Reserve is controlled by mayor and council (those whom you elect to represent you).
Councillor Grant Ward