New Haven is set to receive more funding from Yale University
New Haven officials are nearing a deal with Yale University that will increase voluntary payments to the city by $52 million over a six-year period.
The city’s Board of Alders were slated to review the agreement at a meeting Tuesday night.
Alder Eli Sabin, a Yale alumni, said the funds will help the city’s relationship with the school by helping residents in need.
“We have so many people in our city who are struggling to put food on the table and pay the rent and pay the bills,” said Sabin. “With the amount of wealth that Yale has, the relationship has just been unjust. It’s not right and this is an important step in the right direction towards fixing it.”
Discussions began last fall with a letter written by Yale University President Peter Salovey to New Haven Mayor Justin Elicker and Alders President Tyisha Walker-Myers.
Earlier this month, Elicker vouched his support of the proposal in a cover letter to Walker-Myers. It marks one of Elicker’s notable accomplishments since he was re-elected mayor in November.
The proposal calls for Yale to increase its voluntary payments to the city by $10 million each year, and $2 million in the final year of the deal. It also gives control of a pedestrian plaza on High Street in the downtown area to the university.
New Haven is projected to receive over $135 million by 2027.