I'd pay off all the house debts of my closest friends and set up trusts for their kids college funds. A lot of their parents were very much like proxy parents/aunts/grandparents to me as a young adult, and although I like to think they are fully aware of my appreciation for them, I would certainly kick it up a notch or two if there was anything they needed...
I'd build the local animal shelter a new building and set up a trust for them as well...
Set up a few scholarships at my alma mater...
There is a golf course near the house that I loved going to in my young adult life (and what was the home course of the local HS). It's getting a tad run down and a few friends and I have already talked about getting some investors together and going in on it. I'd go all-in on that, giving each of the few who would go in on the investment their equal share (free of charge of course to help establish their familial wealth)...
I've been eyeing up properties, 25-40 acres in size, for future/retirement use (I really want to open up a maple syrup farm and raise bees for honey). We've already been looking at buying one, so I'd just make this happen earlier and maybe bump up the size a tad...
I'd buy a few local farms from any farmer looking to sell (or parcel off), then pay them to raise food which can be provided to the local shelters for free...
I saw a thing a while ago where someone bought an old church and turned it into a halfway house and abuse shelter. Seems like a better use for that building, so I can see that happening in a few needed areas. The Taco Guild in Phoenix is an awesome restaurant (a true "gourmet taco"! shop), so maybe something like that too, but more like a soup or "what you can pay" kitchen...
My kids are going to live a comfortable life already, as are likely my grandkids, but I'd certainly establish some long-term familial wealth and investments for them, with account stewards and someone to help them manage. After that, I'd take every penny remaining and buy each and every ugly ass strip mall possible, bulldoze it to the ground, and open up a free to use park...