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Your donation will support The Ithacan's student journalists in their effort to keep the Ithaca College and wider Ithaca community informed. Your contribution will allow us to purchase equipment and cover our annual website hosting costs.

Cornell will contribute $4 million to Ithaca annually until 2039

The+Memorandum+of+Understanding+includes+a+%244+million+payment+in+lieu+of+taxes.+The+MOU%E2%80%99s+term+will+expire+in+June+2039%2C+which+is+six+years+shorter+than+the+original+proposal+stated.
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The Memorandum of Understanding includes a $4 million payment in lieu of taxes. The MOU’s term will expire in June 2039, which is six years shorter than the original proposal stated.

The Ithaca Common Council voted to accept the Memorandum of Understanding proposal Oct. 11 in a 9–1 vote and Cornell’s Board of Trustees voted to pass the MOU on Oct. 13. Conversations in the community and within the council mainly regarded Cornell’s annual voluntary contribution to the city as well as the length of the MOU’s term.

Alderperson Cynthia Brock was the only Common Council member to vote against the proposal. She pushed for an even shorter term of seven years. Other council members argued against her points, saying that going back to negotiations would risk a $4 million hole in the budget, which could result in a dramatic increase in property taxes or layoffs in the city government. 

The Memorandum of Understanding includes a $4 million payment in lieu of taxes. The MOU’s term will expire in June 2039, which is six years shorter than the original proposal stated. The length of the deal was shortened in the negotiation process, as it was originally set to expire in 2044. 

Community members and activists have been vocal about their desire for a shorter term limit and greater contribution from Cornell. They have also expressed dissatisfaction with the city council’s transparency with the community about the negotiation process. 

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Lorien Tyne, Former News Editor
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