The city of Syracuse has struck a deal with Syracuse University to provide $7 million in revenue over the next five years. It extends an earlier service agreement that would have expired later this year.
One of the issues that impacts a cash-strapped city like Syracuse, is the amount of tax-exempt property within city limits -- things like churches, universities and land owned by other governmental entities.
“Fifty percent of the city’s property is off the tax rolls,” said Syracuse Mayor Stephanie Miner.
So the mayor is pleased that the city and university were able to come to terms to a new five-year service agreement that will provide $4.5 million for general services in the city, and another $2.5 million for neighborhood organizations. The agreement comes just as the mayor is putting the finishing touches on the next fiscal year’s budget.
“A 60 percent increase in revenue in year one that we’re going to put in our budget that we otherwise would not have had. And if we hadn’t come to a successful resolution of this, we would have had to put in zero. So these numbers have real impact.”
Miner says a deal like this basically offsets the impact the university has on the city services. The city also has a similar agreement with Crouse Hospital.
