A sign marks the future location of a project slated for Lakin Foundation grant funding outside of Atlantic. (Photo by Cami Koons/Iowa Capital Dispatch)
ATLANTIC — The Charles E. Lakin Foundation has donated $165 million to fund community projects in 51 cities throughout southwest Iowa, with a goal of reversing population and economic decline through its rural counties.
The donation will be managed by Community Foundation for Western Iowa, which will partner with local non-profit organizations to fund projects unique to each community, officials said during a news conference Tuesday. Housing and child care were mentioned consistently as a need in the region.
Christina Bateman, the president of Vision Atlantic, one of the partnering non-profits that has already been selected as a participant, said the foundation has pledged $23 million to support projects in the city of about 6,700 people.
“In Atlantic, we often talk about this remarkable gift from the Lakin Foundation as a once-in-a-lifetime opportunity, but really it’s an opportunity that doesn’t even come around once every lifetime,” Bateman said.
Vision Atlantic plans to use the funds in tandem with its own community-raised funds, to build a new child development facility, expand its YMCA and build a 144 unit housing development with integrated walking trails.
GET THE MORNING HEADLINES.
Need in the region
Steve Wild, a director at the Lakin Foundation, said to qualify for the program, communities must demonstrate need, make a commitment to keep the funds in southwest Iowa, share amenities with surrounding communities, have an active pursuit of donors and demonstrate community drive to support the projects.
Wild said it shouldn’t be hard to demonstrate need in southwest Iowa, an area he said has been called “an orphan of Iowa and a stepchild of Omaha.”
Wild said the majority of Iowa’s southwestern counties saw their peak populations in 1900, or 1930.
“Since then, the exodus has been relentless,” Wild said.
Yet, across the Missouri River, he said comparable counties in Nebraska have experienced consistent growth.
“This difference between our two regions paints a sobering picture, and it’s one that we refuse to accept,” Wild said. “Today we are here to change the narrative.”
Many rural counties across the state have seen similar declines in population, according to a study from Iowa State University Extension.
The Lakin Foundation is based in Council Bluffs and honors the legacy of Charles and Florence Lakin, successful farmers who hailed from southwest Iowa.
Wild said the foundation limits the breadth of where it can fund projects, so this money will go to the six counties of Mills, Montgomery, Cass, Pottawattamie, Page and Fremont.
Sustained support
Once the foundation has determined a city fits with the project, Wild said the “real magic happens” as the funding goes to local nonprofits.
Member cities, as the program calls them, will be linked to “anchor cities” that have a population of over 400 people and non-profits substantial enough to manage the projects and funding.
Donna Dostal (with microphone) of the Community Foundation for Western Iowa answers questions alongside Gov. Kim Reynolds, center right and Steve Wild, right of the Charles E. Lakin Foundation, during a press conference about a donation to serve southwest Iowa. (Photo by Cami Koons/Iowa Capital Dispatch)
Donna Dostal, the president and CEO of the Community Foundation, said part of what makes this funding so exciting is that it is sustainable.
“This isn’t going anywhere, it’s just going to grow,” Dostal said.
Funding from the Lakin Foundation will be distributed through the Community Foundation’s “Field of Interest Funds,” which are set up in benefit of the communities. Each year, the foundation can grant out 5% of the fund toward various projects.
The Community Foundation will also have “impact investing” available to the communities. Essentially, this means it can provide a loan to the community for a project, and the earnings for the project go back into the fund to keep growing the pool for these communities.
Dostal said it’s time for communities to “think big” about the projects they want to accomplish and the things they want to see improved in their communities.
Gov. Kim Reynolds, speaking at the Tuesday event, said the smaller tax bases and financial constraints of the region often stop great ideas from happening, which is why she said this funding will “go even further in southwest Iowa communities.”
“This region embodies our state at its best, and amid rising cost nationwide, as well as a rise in remote work, it has more to offer than ever before,” Reynolds said.
Cities like Atlantic, with greater housing stock and important amenities like child care facilities, could be the perfect place to settle for young families looking to embrace small town charm and affordability.
Reynolds also applauded the bottom up strategy of the funding that allows projects to be conceived and executed at the local level, rather than “imposing cookie cutter ideas from above.”
The program works hand in hand with efforts at the state level, Reynolds said, that have increased broadband infrastructure, enhanced the quality of life and funded housing developments across the state and in southwest Iowa.
She also touted the recently signed “mega site” tax incentive bill, to draw big projects to areas like Mills County.
“Our goal is to see every single corner of this great state be prosperous and to see economic development,” Reynolds said. “I just can’t thank you enough for helping us make that happen here in southwest Iowa.”
Southwest Iowa community leaders interested in the Revitalize Southwest Iowa Initiative program can fill out an inquiry form online with the Community Foundation.
YOU MAKE OUR WORK POSSIBLE.