“There are probably 1,000 independent colleges and universities in
the country and it’s only a handful that makes any kind of financial
payment to their host cities,” Salovey said.
Additionally, Salovey the university pays property taxes on
non-academic properties. Yale last year paid $4 million in property
taxes, he said.
Other contributions to the city come through the New Haven Homebuyer Program and New Haven Promise scholarships.
Salovey said the newest initiative will be a focus on encouraging Yale students and faculty to start their companies here.
“A big part of it is Yale and the city being partners in
promoting the transportation infrastructure here; trains and planes,
parking,” he said. “All of it makes a huge difference.”
Salovey noted the possibilities of offering a greater array of
services at Tweet New Haven airport or having a one-hour train from New
Haven to New York.
In the area of growth, Salovey said the university is moving
forward with plans to build two new residential colleges along Prospect
Street. The colleges are expected to accommodate a 15 percent increase
in the undergraduate student bod
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