Yale Increases Voluntary Payments to the City of New Haven
Yale University announced today that it is increasing its annual voluntary payment to the City of New Haven to more than $7.5 million.
“While the University is dealing with its own budget challenges, Yale University is a citizen of this community and feels a responsibility to do our part to help keep New Haven strong,” said President Richard C. Levin. “We have therefore agreed in principle with the City of New Haven that the University will increase our annual voluntary payment, which now exceeds $5 million, by an additional $2.5 million for a total of over $7.5 million annually.”
This increase will occur in conjunction with a continuation of the University’s voluntary1990 fire services agreement when it is subject to review on its 20th anniversary.
Yale University’s voluntary payment is already the largest such payment made by any university in the nation to its host municipality, and it will be even more so with this increase.
In addition to voluntary payments to the City of New Haven, Yale University is the largest taxpayer in the City of New Haven—currently at $4.5 million annually—because of its community investment program that funds real estate redevelopment projects. Also, the University does not consume substantial amounts of municipal services; it provides its own police force, fire marshal, and garbage pick-up.
Beyond the multi-million-dollar voluntary and tax payments, Yale University has committed its resources to other programs that strengthen New Haven, including the Yale Homebuyer Program that has helped more than 900 University employees buy their own homes in the city. Each year, more than 10,000 New Haven Public School students participate in academic programs on campus, and the University has committed itself to growing these public schools partnerships in the years ahead. The University also provides support to many other youth services, community development, and arts and cultural organizations in the City of New Haven, and provides to local citizens an annual payroll of over $1 billion.
“The Mayor, Board of Aldermen, and senior City staff are doing their part to keep up the momentum of New Haven’s revitalization during these difficult economic times in the nation, and we want to help,” said Bruce D. Alexander, Vice President for New Haven and State Affairs and Campus Development. “We are in this together.”