HomeMy WebLinkAboutTB 2024-061 CU ContributionMEETING OF THE ITHACA TOWN BOARD
June10, 2024
TB Resolution 2024 - 061: Approval of an agreement between the Town of Ithaca and Cornell University (Voluntary Payment)
Whereas, the Town of Ithaca (the “Town”) and Cornell University (“Cornell”) recognize their long-standing, inter-related and cooperative nature, and
Whereas, Cornell properties, facilities and infrastructure are located, in part, in the Town of Ithaca, and
Whereas, as a New York education corporation, much of Cornell’s real property is exempt from local property tax pursuant to NY Real Property Tax Law 420-a, and
Whereas, Cornell properties in the Town are assessed at a valuation of approximately $700 million dollars, $30 million dollars of which is not exempted from taxation and for which Cornell
pays property taxes to the Town, and
Whereas, the Town Board deemed it important to receive an annual voluntary contribution from Cornell to augment support for services and initiatives that, by default, are of mutual benefit
to Town residents and the Cornell community, and
Whereas, after joint discussions related to costs and benefits provided by and for each entity, Cornell and the Town have come to terms; now, therefore be it
Resolved, that the Town Board of the Town of Ithaca accepts the terms outlined in the “Agreement Between the Town of Ithaca and Cornell University” and authorizes the Town Supervisor
to sign same.
Moved: Rich DePaolo Seconded: Rod Howe
Vote: ayes – DePaolo, Howe, Levine, Gutenberger, Johnson, Rosen and Bleiwas