The Greenville Area Preservation Association, a civic-minded citizens' group that formed early this year after the borough's fiscal problems began surfacing, is considering an ambitious plan to raise at least $1 million over five years to assist the borough.

GAPA spokeswoman Lorrie Smith outlined the plan Thursday at an association meeting.

Ms. Smith said GAPA could establish an account within the Northern Mercer County Foundation, a branch of the $22 million Shenango Valley Foundation, and then pour money into the account over the next five years.

Ms. Smith said she believes the account could reach the seven-figure goal if 3,000 people contributed $4 a month for the next five years -- or, $240 in a lump sum. Donors would not have to be borough residents or live in the immediate area, Mrs. Smith said.

If 3,000 people donated $4 a month for five years, their contributions would add up to $720,000. Earned interest, investment returns and money from other GAPA fund-raisers and events could help grow the account to $1 million, Ms. Smith said.

After five years dues-paying GAPA members would decide what to do with the money, Mrs. Smith said.

She suggested that the money could be used either to help the borough pay back money it is loaned through the state Act 47 program for financially distressed communities or to help fund a local capital project. The borough has already requested $660,000 from the state to help survive the rest of the year and is expected to ask for more money when it completes its long-range recovery plan later this year, officials have said.

"I commend Greenville and its citizens for initiating this kind of effort," Michael Foreman -- a policy specialist with the state Department of Community and Economic Development, which administers the Act 47 program -- told those at the GAPA meeting.

"During my 14 years dealing with distressed communities I have encountered only one that was fortunate enough to benefit from a foundation or something resembling one," Foreman said.

Foreman and Larry Haynes, executive director of the Shenango Valley Foundation, were invited to Thursday's meeting by GAPA members. Both assured the group that any money raised would not be misspent.

"One of the good things about establishing a foundation is that the public would know at least two groups (GAPA and the Shenango Valley Foundation) would be monitoring the money and ensuring that it goes toward its intended purpose," Haynes said.

And Pittsburgh-based Resource Development & Management Inc., the Act 47 coordinator that has been appointed to oversee the borough's fiscal recovery, would also follow the money to make sure it is spent properly, Foreman said.

GAPA members could vote on the proposal as early as next month.