GEORGETOWN, Texas — The Georgetown ISD Education Foundation has received a sizable donation from a recently-dissolved homeowners association.
The foundation received the largest individual donation in its 7-year history from the Village Homeowners Association (HOA), which encompassed 549 homes in the Village Neighborhood off Shell Road in northwest Georgetown. The HOA donated $450,000 and a 2.792-acre parcel of land valued at $343,568, located east of McCoy Elementary School on Bellaire Drive.
According to a news release from the foundation, the HOA was originally created in 2008 by the developer to build and operate a community pool for the homeowners of the Section 9 and Creekside sections of the Village neighborhood. But after years of homeowner discussions and a lack of funds to construct the pool, the board held an election last winter to determine the future of the HOA.
Texas law requires at least 67% of homeowners to cast a ballot for an election to be valid. The foundation said a total of 453 homeowners (82%) voted with 87% of the votes cast in favor of dissolving the HOA.
"We are honored that the homeowners and parents in the Village community entrust us with this gift. It is a game-changer for our organization," Greg Bowden, founder and chair of the Georgetown ISD Education Foundation, said in a statement. "We are humbly aware of the responsibility we have to be good stewards of these funds which will provide a lasting legacy for students in GISD."
The Georgetown ISD Education Foundation said that since 2015, it has operated as a fully volunteer board to "support innovative learning in Georgetown ISD schools." Its programs include teacher innovation grants, SeaPerch, the Hammerlun Leadership Academy and more, and the funds donated by the HOA have not been earmarked for any one program. Learn more about the foundation's initiatives here.
"As funding for public school shrinks, organizations like the Ed Foundation become increasingly essential to sustaining innovative programming," Dr. Fred Brent, superintendent for Georgetown ISD, said in a statement. "I am honored and humbled at the news of this gift."
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