FAIRMONT — By setting up an endowment fund, Main Street Fairmont has taken another small step in working to achieve its goals.
The Main Street fund supports neighborhood and downtown revitalization, and contributions will go toward projects in the Main Street district.
Vera Sansalone, executive director of Main Street Fairmont, said the fund was started with a $500 donation from BB&T; and First Exchange Bank.
Main Street Fairmont searched for a foundation that would meet its needs. The Community Foundation of North Central West Virginia, a local foundation, was already helping other charitable organizations around Fairmont.
“The Community Foundation of North Central West Virginia we thought was a good fit,” Sansalone said. “We felt that there was a good support system there, and we went ahead and endowed that money with them.”
Formed in 2005, the Community Foundation is open to anyone — regardless of location — who wants to establish a fund, executive director Max Francis said.
“We are thrilled to be working with Main Street Fairmont along with all the other funds as we expand to work with various communities and benefactors in North Central West Virginia,” he said.
The foundation currently manages a total of 18 funds. People may place an investment fund with the Community Foundation, and a fund agreement articulates how the benefactor wishes the fund to be used and distributed, Francis said.
“A fund is established and, based upon a fund agreement, the proceeds from the fund then are distributed back to Main Street Fairmont,” he said.
Main Street Fairmont has teamed up with the Community Development Partnership and the Federal Home Loan Bank of Pittsburgh to establish a “Blueprint Community” in Fairmont, which focuses on the area from First Street to Fourth Street bordered by Virginia Avenue and Walnut Avenue.
In the spring, Main Street Fairmont hopes to do some cleanup work in the downtown, riverfront and southside areas, Sansalone said. The organization hopes to start cleaning up the grassy hillside that runs along Virginia Avenue to provide a view into Palatine Park. Main Street is also looking into putting a boardwalk along Virginia Avenue and adding picnic tables.
“Enhancing the neighborhood is sort of the goal of this fund,” she said.
Sansalone hopes to get the value of the fund up to $10,000 over the next five years. The fund will allow Main Street to maximize its efforts to bring more people and businesses downtown. It will provide money for projects where funding is difficult to obtain.
Businesses, organizations or individuals who believe in Main Street Fairmont’s revitalization work can make donations, which are tax deductible, of any amount to the fund. For more information, visit www.ncwvfoundation.org or call Main Street at 366-0468.
In other news, Main Street Fairmont will soon relocate to a new office.
Currently stationed at 118 Adams St., the organization will move up one block to a ground-level facility. Main Street should be in its new office space, located at 206 Adams St., by April 1.
“We’re doubling our space,” Sansalone said. “We’ll have a street-level presence there. I think it’s a good move for our organization. We’re growing.”
Main Street is also considering hiring an AmeriCorps Vista worker, which would double the staff to two people.
E-mail Jessica Legge at jlegge@timeswv.com.
In Today's TWV
March 7, 2008
Main Street Fairmont fund backs revitalization
Objective: Getting its value up to $10,000 over the next five years
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