Move Forward

A successful eight-week push to match a $2.5 million endowment donation has erased worries of a struggle ahead in funding programs and collaborations for a regional technology hub in Fort Myers.

The $5 million is projected to give the Southwest Florida Community Foundation, sponsor of the conversion of the Atlantic Coast Line train depot, about $250,000 annually through a 4.1% draw from the endowment, says foundation CEO Sarah Owen. The nonprofit community development organization manages $100 million in assets in its five counties — Lee, Collier, Charlotte, Hendry and Glades.

The project has $3 million from federal tax credits and $7 million from other sources to take care of the renovation and fixtures and a new adjoining building, she adds. The collaboration center and the new building, which will house foundation offices, are scheduled to open by the end of next summer.