The Town of Kirkland, Village of Clinton, Hamilton College, Clinton School District, and Oneida County have reached a mutual agreement in which Hamilton College will provide increased annual contributions to the local area.
Properties owned by not-for-profit organizations are tax-exempt, but in the past Hamilton College voluntarily paid taxes on certain properties. Under the new agreement, all Hamilton properties will be classified as tax-exempt and the college will increase its voluntary contribution to $308,000 per year, beginning in July 2006. The annual voluntary contributions will increase by 4.5 percent per year over the term of the 10-year agreement.
At the college's initiative, a working group of citizens and town, village and college officials began meeting last fall to discuss areas of common interest and concern. The group exchanged information about Hamilton College's economic impact and incremental costs related to public services for the college. Members of the group strongly agreed that local entities and the college are mutually dependent and that increasing communication should be a high priority.
The goal of the new financial agreement is to clarify the annual contributions that Hamilton makes to the community. Hamilton College will also continue making contributions to Village organizations via its Town-Gown Fund and to the volunteer ambulance and fire departments. Hamilton employees who own houses that are situated on college land will continue to pay taxes based on assessed value.
"The college made it clear to us that it wants to support the community. We are very pleased to see this agreement come to fruition," said Annette Foley, Town of Kirkland supervisor. "It provides additional revenue and gives us predictable funding going forward. Over the next 10 years, Hamilton College will make over $3 million in voluntary contributions."
"For many years Hamilton College has voluntarily paid taxes on properties that are tax-exempt, said Karen Leach, Hamilton vice president for administration and finance. "This agreement publicly recognizes the college's long-held commitment to support the community and formalizes an ad hoc policy so that local government agencies can plan with greater certainty in the future."
"One of my goals this year has been to strengthen the partnership between the college and the local area," said Hamilton President Joan Hinde Stewart. "College representatives have been attending public meetings of the town, village and schools. Our goal is to understand what is important to the success of the region and communicate what is important to the success of the College. Our futures are interdependent and we must work together."
Properties owned by not-for-profit organizations are tax-exempt, but in the past Hamilton College voluntarily paid taxes on certain properties. Under the new agreement, all Hamilton properties will be classified as tax-exempt and the college will increase its voluntary contribution to $308,000 per year, beginning in July 2006. The annual voluntary contributions will increase by 4.5 percent per year over the term of the 10-year agreement.
At the college's initiative, a working group of citizens and town, village and college officials began meeting last fall to discuss areas of common interest and concern. The group exchanged information about Hamilton College's economic impact and incremental costs related to public services for the college. Members of the group strongly agreed that local entities and the college are mutually dependent and that increasing communication should be a high priority.
The goal of the new financial agreement is to clarify the annual contributions that Hamilton makes to the community. Hamilton College will also continue making contributions to Village organizations via its Town-Gown Fund and to the volunteer ambulance and fire departments. Hamilton employees who own houses that are situated on college land will continue to pay taxes based on assessed value.
"The college made it clear to us that it wants to support the community. We are very pleased to see this agreement come to fruition," said Annette Foley, Town of Kirkland supervisor. "It provides additional revenue and gives us predictable funding going forward. Over the next 10 years, Hamilton College will make over $3 million in voluntary contributions."
"For many years Hamilton College has voluntarily paid taxes on properties that are tax-exempt, said Karen Leach, Hamilton vice president for administration and finance. "This agreement publicly recognizes the college's long-held commitment to support the community and formalizes an ad hoc policy so that local government agencies can plan with greater certainty in the future."
"One of my goals this year has been to strengthen the partnership between the college and the local area," said Hamilton President Joan Hinde Stewart. "College representatives have been attending public meetings of the town, village and schools. Our goal is to understand what is important to the success of the region and communicate what is important to the success of the College. Our futures are interdependent and we must work together."
