Thursday, July 05, 2007Breaking News: 9/11 lawyer to help with Tech fundKenneth Feinberg, the lawyer who headed the fund for victims of the Sept. 11, 2001, terrorist attacks, will work pro bono for Virginia Tech to administer the Hokie Spirit Memorial Fund, the university announced today. Donations to the fund, which has raised about $7 million so far, will continue to be accepted until Aug. 1, Tech officials said. Officials plan to create a set of proposals on how to distribute the memorial fund's millions by mid-month. Victims' families will be included in the final decision, Tech officials said. The money would be distributed this fall. Feinberg spent 33 months as special master of the September 11th Victim Compensation Fund of 2001. One of several memorial funds created in the aftermath of the April 16 shootings, the Hokie Spirit Memorial Fund is by far the most well-known and well-funded. Its stated aim, according to its Web site, is "to remember and honor the victims of the tragic events of April 16" and "aid in the healing process." To that end, the Hokie Spirit Memorial Fund is made up of 34 funds: one intended to cover expenses resulting from the tragedy and to help support ongoing memorials; the Hokie Spirit Scholarship Fund, a fully endowed scholarship that will support students universitywide; and 32 individual victim memorial funds. The Virginia Tech Foundation, which administers the fund with guidance from Tech, has spent about $100,000 to address immediate costs, including those related to funerals, travel, media and campus events. A further $3.2 million was transferred last week into the 32 separate memorial funds named for victims to bring each to at least $100,000, the amount needed to fully endow a fund and ensure its scholarship or fellowship will be available in perpetuity. |
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