Wednesday, October 29, 2014

Will Roosevelt Island Residents Association Continue Advisory Role In Public Purpose Funds Recommendations To RIOC?

Pile Of Money Image From Passive Income Genius

Since at least 2008, the Roosevelt Island Residents Association (RIRA) has been tasked by the Roosevelt Island Operating Corp (RIOC) to evaluate applications and make recommendations to RIOC for the allocation of approximately $100 Thousand annually in Public Purpose Funds to Roosevelt Island non-profit organizations. As reported in 2012:
... The Roosevelt Island Residents Association (RIRA) has been delegated by RIOC to make recommendations to the RIOC Board for the allocation of available Public Purpose Funds. RIRA created a Public Purpose Funds Committee that will interview and evaluate the applicant organizations and then make recommendations as to how the funds get distributed to the full RIRA Common Council. Upon approval by the RIRA Common Council, the recommendations are forwarded to the RIOC Board for approval...
Question have been raised recently whether RIRA will continue with its role of making Roosevelt Island Public Purpose Funds recommendations to RIOC. At the October 1 RIRA Common Council Meeting, Dave Evans, who chairs the RIRA Public Purpose Funds Committee addressed the future role of RIRA in the Public Purpose Funds process.

The October RIRA Common Council postponed any further discussion of its role in Public Purpose Funds until a future meeting.

Last week, I asked RIOC President Charlene Indelicato:
During the October RIRA meeting, there was a discussion that RIOC plans to stop delegating the Public Purpose Funds vetting process to RIRA and to either evaluate the applications internally by RIOC or through a third party other than RIRA.

Is that true?

Does RIOC have any comment on the matter.
Ms. Indelicato replied:
We have not finalized the method of distribution as yet but be assured it will be in accordance with all applicable laws, rules and regulations.
RIOC approved the 2014 Public Purpose Funds RIRA recommendations during April 11 Board of Directors meeting and:
... concluded that the process followed by RIRA has been fair and the amounts recommended for each grantee to be reasonable....
with both RIOC Director David Kraut and RIOC President Charlene Indelicato complimenting RIRA on its handling of the Public Purpose Funds allocation process.