SDG&E Establishes $2 Million Endowment Fund To Support Chula Vista's Living Coast Discovery Center
SAN DIEGO, Feb. 18, 2015 /PRNewswire/ -- Today, San Diego Gas & Electric (SDG&E) announced the establishment of a $2 million endowment fund benefiting the Living Coast Discovery Center (Living Coast). The SDG&E Living Coast Discovery Center South Bay Enhancement Fund (Fund) will support the continued operation of Living Coast, environmental education programs, and the public's access and enjoyment of the San Diego Bay.
The establishment of this Fund was a condition of the California Coastal Commission's approval of the relocation of SDG&E's South Bay Substation. SDG&E proposed the Fund as a part of the substation's relocation from its current Chula Vista bayfront site, making new waterfront land available to the Chula Vista Bayfront Master Plan. The Fund will be managed by The San Diego Foundation.
"This is an exciting day for Living Coast and the communities of South Bay San Diego," said Frank Urtasun, SDG&E's regional vice president of external relations. "Living Coast is a unique place where families can learn about our coastal species in the middle of a protected wetland. Today, SDG&E is again pleased to support it."
"The Living Coast Discovery Center is one of the crown jewels of Chula Vista's Bayfront, where children and their families can visit and appreciate our special coastal environment," said County Supervisor and California Coastal Commissioner Greg Cox. "Thanks to SDG&E's generous support, we will be able to keep the Center open and thriving for future generations to enjoy."
"Though the Living Coast faced financial hardship, over the last 14 months we have made significant progress toward financial sustainability much in thanks to strong community partners like SDG&E, our largest corporate supporter," said Ben Vallejos, executive director of Living Coast. "We have a long road ahead of us, but are especially grateful to SDG&E, the Coastal Commission, Supervisor Cox, former Mayor Cox, Mayor Salas, and the city council for enabling us to continue our mission of environmental education through this endowment."
The long term endowment fund, managed by The San Diego Foundation, is expected to provide nearly $90,000 a year, subject to market conditions, to Living Coast.
"The San Diego Foundation is pleased to manage this Fund on behalf of SDG&E in support of the Living Coast Discovery Center," said Kathlyn Mead, President and CEO of The San Diego Foundation. "The Foundation is dedicated to improving the quality of life for all communities in the San Diego region, and Living Coast's mission and values are closely aligned with our own."
SDG&E is a regulated public utility that provides safe and reliable energy service to 3.4 million consumers through 1.4 million electric meters and 878,000 natural gas meters in San Diego and southern Orange counties. The utility's area spans 4,100 square miles. SDG&E is committed to creating ways to help customers save energy and money every day. SDG&E is a subsidiary of Sempra Energy (NYSE: SRE), a Fortune 500 energy services holding company based in San Diego. Connect with SDG&E's Customer Contact Center at 800-411-7343, on Twitter (@SDGE) and Facebook.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/sdge-establishes-2-million-endowment-fund-to-support-chula-vistas-living-coast-discovery-center-300037419.html
SOURCE San Diego Gas & Electric (SDG&E)
For further information: Allison Zaragoza, San Diego Gas & Electric, 877-866-2066, sdge.com, Twitter: @sdge