The financing phase in an attempt to beautify the city of Dallas and provide a central meeting place for outdoor exhibitions, festivals and gatherings moved closer to completion on February 1. J.P. Morgan Chase & Co. donated $3 million to the Woodall Rogers Park Foundation.
The park will span 5.2 acres and create a green space in the middle of downtown Dallas. It will include several walking trails, a playground and a restaurant. One of the primary goals of the park is to increase walkability between three of the city’s most populated areas – uptown, downtown and the arts district.
The donation is "the lead donation in the final phase of the park’s capital campaign" aimed at raising $30 million.
The park will also serve as a venue for area performances as several dance, art and music organizations call the city home.
"Woodall Rodgers Park is a key element of the ongoing revitalization of downtown Dallas. It will provide a vibrant green space that will bring together people from all parts of the city and all walks of life," said Jamie Dimon, CEO of JPMorgan Chase & Co. "Chase is making this donation because Dallas and Texas are very important to us. We have more than 12,000 employees in North Texas, and we’re proud to be a steadfast supporter of this community."
Construction on a portion of the park began in October 2009. Although record cold temperatures this winter have delayed the progress, the park is expected to be completed in 2012.
JP Morgan Chase recently announced a $3 million grant to The Grameen Foundation’s Bankers Without Borders program, which strives to improve microfinancing and savings efforts in poverty-stricken nations throughout the world.