City and University officials announced on Wednesday several initiatives to increase Yale’s contributions to New Haven — including an additional $52 million in voluntary contributions over the next six years.
The additional $52 million will bring Yale’s voluntary contribution over the next six years to $135.4 million. Wednesday’s announcement also included the establishment of a new Center for Inclusive Growth, which will “seek to identify economic and social development initiatives that will bolster growth throughout our community,” according to a press release. Officials also announced that the stretch of High Street between Elm and Chapel Streets — which passes between Old Campus and Harkness Tower — will be redeveloped as a City-owned pedestrian walkway.
“Yale and New Haven have a bond that has been tested by time and strengthened by shared purpose,” Salovey said. “As a New Haven anchor institution and the city’s largest employer, the university is proud to do its part in building a community that creates sustained inclusive growth across every neighborhood in the city. New Haven is poised for accelerated growth with increased funding from the federal government, the state, and the university.”
The university will add $10 million per year to its voluntary contribution for the next five years and $2 million in the sixth year. The university’s current voluntary payments stand at $13 million which is the highest that any American university contributes to its host city, according to the press release.
“This is an historic moment for the relationship between the City of New Haven and Yale University,” Mayor Justin Elicker said. “Yale has contributed in many ways to the city, but with today’s announcement, Yale has committed to contribute more financially over the next six years than it has over the last twenty combined.”
The new public walkway on High Street between Chapel and Elm will no longer be open to vehicular traffic, other than emergency cars. Yale will lead the walkway’s design, subject to the approval of the City Plan Commission and New Haven Traffic Authority. Yale will fund and maintain the public space.
Currently, many of Yale’s properties are tax-exempt because of the University’s nonprofit status. Officials announced that for new properties developed in the next six years, Yale will offset the lost tax revenue through additional voluntary payments for the first three years, then pay diminishing amounts for the following nine years.
In a joint statement, Rev. Scott Marks of New Haven Rising and Barbara Vereen of Local 34 — UNITE HERE wrote on behalf of a coalition of local unions and advocacy organizations that “this campaign is decades in the making” and deemed the new initiatives “historic victories.”
“Members of our union and community coalition have marched, rallied, testified, risked arrest in civil disobedience, put signs in our yards, and have enjoyed thousands upon thousands of conversations with our neighbors,” they wrote. “Today’s announcement does not solve all our city’s problems, but it is a significant step in the right direction and a historic recognition that New Haven and Yale University’s fates are inextricably linked.”
In March 2020, 60 percent of New Haven’s grand list was tax-exempt.
This is a developing story. Check back for updates.
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