CARS HOMES JOBS

GlobalFoundries awards first grants

Thursday, December 22, 2011
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— Smoke detectors could be provided to homes that lack them and damaged cemetery headstones could get repaired under projects funded by the new GlobalFoundries-Town of Malta Foundation.

The public benefit foundation, funded by the computer chip maker as part of a community benefit package, on Wednesday announced 13 grants totaling $37,500 to various organizations.

It is the first distribution by the foundation, which by next year will have $3 million contributed by GlobalFoundries to be used for community benefit projects.

Among the initial recipients are the Round Lake and Malta Ridge fire companies, which together got $2,500 toward making sure every home in town has a smoke detector.

“The theme was, smoke detectors save lives,” said Malta Ridge Fire Chief Peter Shaw. “We want to make sure every residence in the town of Malta and village of Round Lake has a working smoke detector.”

The money should be enough for about 600 detectors. The needs of senior citizens, low-income residents and the disabled will be addressed first, fire officials said.

The Malta Ridge and Dunning Street cemeteries will each receive $2,500 for repairs and maintenance. “We have many downed stones. This money will go a long ways toward righting those stones,” said Royal Arnold, a director of both cemeteries.

The GlobalFoundries-Malta Foundation was created as part of the zoning agreement for the $4.6 billion computer chip factory being built in Luther Forest. The chipmaker contributed $750,000 this summer when it completed the factory shell, and it will contribute $2.25 million more by July 2012, as it meets start-of-production milestones.

This year, the funding total was set ahead of time at $37,500. In future years, the funding will be based on the investment returns on the $3 million.

“We want to manage the money wisely, so every year we can get the most interest possible,” said former town Supervisor David Meager, a foundation board member.

The other grants:

• Captain Youth and Family Services is getting $5,000 toward a new van for its runaway and homeless youth shelter in Malta.

• The Round Lake Auditorium, a historic landmark in Round Lake, is getting $4,700 for new sound, lighting and audio-visual equipment.

• Junior Achievement of Northeastern NY will get $4,600 for materials supporting practical economic education and learning experiences in Ballston Spa elementary schools.

• Literacy New York will get $3,000 to expand English language instruction programs.

• Living Resources Corp. will get $3,050 to provide therapy scholarship help to children with multiple disabilities.

• The Malta League of Arts is getting $2,000 to support arts programs and events in 2012.

• Malta Seniors Inc. is getting $1,000 to support trips and other activities.

• The Malta Sunrise Rotary Club is getting $2,000 to support a “Rebuilding Together Saratoga” work day event for families in need.

• The Malta Veterans Committee is getting $1,500 to sponsor the Fourth Annual Malta Military, Veterans & First Responders Parade in 2012.

• The Rugrunners Robotics Club at Shenendehowa High School will receive $3,150 for equipment and materials for competition.

Meager said the winners were selected from among 45 applications.

Directors of the foundation include Meager, town Deputy Supervisor Glenn Rockwood, attorney Karen Heggen and Travis Bullard and Steven Groseclose of GlobalFoundries.

A separate community benefit foundation established in Stillwater will receive $1 million from GlobalFoundries, but has yet to fully organize.

As a separate community benefit, GlobalFoundries has also given the town of Malta $1 million toward development of the athletic complex now under construction in Luther Forest.

 
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comments

December 22, 2011
10:24 a.m.
justapto says...

This is just tax payer money being repackaged and credit given to Global Foundries.
They have received about a Billion Dollar$$ of taxpayer funds.

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