Buffalo Grove continues talks about community fund

A community fund where donors can support "quality of life initiatives" like Buffalo Grove Days and the community band continues to be a topic of conversation among the Buffalo Grove village board.

Trustees this week went over a draft agreement with the Lake County Community Foundation to establish a Buffalo Grove Donor Advised Fund. Under the proposal, the foundation would manage the fund, which would serve as a place for donors to make tax-deductible contributions to local initiatives.

The village would provide a minimum of $10,000 in seed money to launch the fund. A group of fund advisers would include Village Manager Dane Bragg, a Buffalo Grove trustee and a member of the Buffalo Grove community.

The village has yet to sign off on the agreement.

Trustee Andrew Stein was particularly concerned about equities being the only place fund money would be invested.

"Equities and the mix that they have is aggressive. If the market takes a downturn and it's been going on for quite some time, it's going to affect the amount of money that we have," he said.