Hobart and William Smith Colleges made it’s second of 10 annual payments to the city of Geneva last Friday.
During the next decade, the college is paying a total of $1.6 million dollars to help the city balance its budget.
The payments were worked out after the colleges and other non-profits filed a lawsuit against the city in the summer of 2011 after the city set up a Transportation Benefits Assessment District. The plan was to impose a fee on all property owners in the city, including those traditionally exempt from property taxes, for the support and maintenance of the city's streets and related infrastructure.
President Mark Gearan (right) met with Mayor Ron Alcock (left) and City Manager Matt Horn (center) Friday to make the second of 10 annual payments to the city of Geneva which will provide $1.6 million in revenue over 10 years.
Hobart and William Smith Colleges President Mark Gearan says the payment reaffirms the college’s commitment to Geneva.