Approval Hoped for at Next Board Meeting in March

Public Purpose Funds Reach Final Stage

RIOC CFO John O'Reilly revamped a lagging Public Purpose Funds process to make it more responsive to community needs.
RIOC CFO John O'Reilly revamped a lagging Public Purpose Funds process to make it more responsive to community needs.
Photo courtesy of RIOC

The Roosevelt Island Daily has learned that the process for approving applications for Public Purpose Funds turned a corner, entering the homestretch in January.

A more responsive system overhauled under the guidance of RIOC CFO John O'Reilly brings funding in line with the State agency's budget term.

Get the bigger picture, updated daily: Roosevelt Island News

Among other things and most significantly for nonprofits dependent on public purpose grants, RIOC now releases funds on award, not on the former pay-as-you-go process that, according to O'Reilly, operated eighteen months behind schedule.

On January 17th, RIOC handed off approved applications to the RIRA Common Council for review. That culminates in recommendations following public presentations tentatively set for February 11th and 12th.

O'Reilly told the Daily that he hopes to have the grants ready for Board approval in March. If not, they will be put to a vote in April. 

Fund dispersal should begin shortly thereafter.

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