The Rotary clubs of Kempsey, Kempsey West and South West Rocks received the tremendous gift from local property developer and investor, Eric Sussman.

Mr Sussman has gifted land at South West Rocks and a rental property at Crescent Head to the three clubs as trustees of the newly formed The Eric Sussman Foundation.

The value of the land is worth more than $1 million.

To receive the gift it was necessary for the three clubs to form the foundation as trustees, and obtain endorsement by the Australian Taxation Office as a public ancillary fund.

Several local Rotarians worked tirelessly during the past couple of months to establish the foundation and obtain that endorsement, which was granted on June 24, 2009.

At a meeting this week, Mr Sussman signed the necessary transfer documents with representatives of the three clubs.

“This is a magnificent gift by Mr Sussman to Rotary and our valley,” spokesman for the clubs, Chris Cooney, said.

“He has expressed his wish to give something back to the community which has been good to him and his business.

“We will endeavour to manage the gifts well, which will provide a source of funds into the future for eligible Rotary and local charitable endeavours.”