City Manager John Regan clarified this afternoon that the separate city enterprise fund being set up with city monies returned from the First America Foundation is not a department, but rather a new city initiative to track the use of the money for the city's 450th anniversary. 

    He anticipates staff with a limited employment contract will manage that fund.

    The foundation, which folded after nine months with little progress, has returned $150,000 of $275,000 in start-up monies advanced by the city. Regan said another $25,000 may be reurned after final accounting.