Yale University to pay New Haven $ 52 million more in voluntary payments over next 6 years

NEW HAVEN – Yale University will dramatically increase voluntary payments to the city, to an amount “unprecedented nationally,” Mayor Justin Elicker and Yale President Peter Salovey said Thursday.

The amount, announced at $ 52 million over 6 years, is an increase from the current voluntary payment of $ 13.5 million.

“Combined with Yale’s existing voluntary payments, Yale will contribute approximately $ 135 million to the city over this six-year period,” the university said in a statement.

Yale will also continue to pay progressive taxes over a 10-year period on properties it purchases or converts for tax-free use and will form a joint venture to use Yale’s monetary and intellectual capital to foster more equitable economic development in the city under an agreement announced today.

Under the deal, jointly announced by Elicker and Salovey during a noon town hall press briefing, the town also agreed to close a long block of a town street – High Street – to vehicles.

But unlike previous section closures of Wall and High Streets, the city will retain ownership of it – and Salovey repeatedly said during the briefing that while it will be closed to vehicles, all residents are encouraged to walk or walk there. ride a bike, not just Yale affiliates.

The section of High Street intended to become a walkway is between Chapel Street and Elm Street – the section of the one-way street leading to the previously closed section in front of Yale’s Sterling Library, from Elm Street to Wall Street.

“The goal of Yale and the city is to make it a beautiful public space,” the university said in a statement.

“This is a historic moment for the relationship between the City of New Haven and Yale University,” Elicker said. “Yale has contributed in many ways to the city, but with today’s announcement, Yale is committed to contributing more financially over the next six years than it has over the past twenty. combined.

Also according to the university, a new center for inclusive growth would be created at Yale, to which Yale will contribute an additional $ 5 million over the first six years. “The center, guided by an advisory committee that will include university, city and community leaders, will develop and implement strategies to develop the city economically in a way that benefits all New Haven residents.”

Salovey previously said Yale would announce plans to increase its voluntary contribution to the city.

Salovey had made the statement during his introductory remarks last month at the Gilder Lehrman Center for the Study of Slavery, Resistance and Abolition annual conference. This year the conference will focus on Yale’s historic relationship with slavery and racism.

“A year ago, Mayor Justin Elicker and I created a committee of university and community leaders to jointly assess the opportunities benefiting New Haven and Yale,” Salovey said at the event. “The committee has identified a number of potential collaborations that we will consider. “

Salovey then said, “Yale will also significantly increase its direct financial support to New Haven, further extending our lead as the university that makes the greatest annual contribution to its host city.

In New Haven’s FY2022 budget, Yale is expected to contribute $ 9.7 million as a voluntary contribution, plus $ 3.5 million for fire departments. Yale is also helping the city with the New Haven Promise program to help city youth attend college, its employee home ownership program, and other ways.

At a campaign event in 2019, as Elcker was showing up, he said Yale’s voluntary payment of $ 11.5 million to the city was too low. He said that compared to the university’s operating budget, “you can’t even see the $ 11.5 million. It is a problem.”

“I think they should give the city $ 50 million a year. It’s not a huge amount for Yale University, but it would dramatically increase our ability to function as a city, and… so much stronger, ”Elicker said at the time.

Elicker reiterated his call for Yale to give more to the city when he took office in 2020 and during the most recent budget period.

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