$2 million endowment from Hillsdale College to fund city's essential services

HILLSDALE — The Hillsdale City Council voted unanimously Monday, Aug. 19 in support of a development plan proposed by Hillsdale College to expand the Dow Hotel & Conference Center.

Now, the city will hold a public hearing at 7 p.m. on Sept. 3 to solicit input from the public and discuss a supplemental proposal by the college to vacate public lands on a block of Galloway Drive and a portion of Summit Street to allow for the expansion.

The proposal comes with a $2 million payout to the city to support “essential services” (like police, fire and the street department) which Mayor Adam Stockford hails as a historic win for the city.

“This is a truly historic win for the city of Hillsdale,” Stockford stated in an email to The Hillsdale Daily News. “It represents a real tangible investment in the city by Hillsdale College and it's the culmination of many years of negotiations and relationship building between city staff, elected officials and administrators on the hill.”

The college’s plan is to set up an endowment through the Hillsdale County Community Foundation in the amount of $1.7 million to allow those funds to build interest over time and help fund essential services in perpetuity.

Three additional payments of $100,000 each will be paid to the city annually for three years to the general fund to give the endowment time to grow.

“There is no way to misconstrue this as anything but a positive recognition that we all share in this city together,” Stockford added.

Hillsdale College says the Dow Hotel & Conference Center will keep its annual visitors from traveling to Coldwater or Jackson throughout the year for lodging and, in turn, help Hillsdale’s economy. Those now able to stay local will spend money at Hillsdale’s retail and restaurant locations in theory.

The council is likely to vote on the proposal to vacate a block of Galloway Drive and a portion of Summit Street Sept. 3 following the public hearing.

This article originally appeared on Hillsdale Daily News: $2 million endowment from Hillsdale College to fund city's essential services