Voluntary Contribution Agreement

Posted: December 20, 2020 in Uncategorized

The University also agreed to contributions for specific needs totalling $1.1 million. Council member Michelle Pirone Lambros, who also represented the community during the discussions, said: “The agreement with the university represents nearly $8.5 million in voluntary contributions from the university over the next two years, including very significant support to our firefighters. Commitment to firefighters is just one of the many ways we work with the university. For example, without the university`s contribution of $350,000, the Princeton Small Business Resiliency Fund would not have been possible to support our small businesses during the pandemic. Christopher Eisgruber, President of Princeton University, said: “During the COVID pandemic, the city and the university worked together creatively and cooperatively to meet many challenges. The extension of the voluntary contribution agreement and the financial support it provides for municipal actions are another expression of the university`s continued support for the community. The City Council approved the agreement at its December 14 meeting. As part of the expanded agreement, Princeton University will provide a total of $8.482 million to the municipality over the next two years. Since the current agreement began in 2014, the university has contributed more than $21.81 million to support municipal measures.

The amount of voluntary contributions of workers, determined in point a), is paid to the most affected workers, as well as a proportionate share of investment income for the year in which these excess aggregate contributions were paid and from the end of the plan year to the distribution date. The expanded agreement includes unlimited contributions from the university, amounting to $3,619,200 in 2021 and $3,764.00 in 2022. This form can be used to provide voluntary contributions to the DoD Siting Clearing House as part of agreements between the Ministry of Defence and supporters of the project. At the time of payment, supporters should provide at least the following information and additional information that the supporter might be able to identify: project name and location; The date of the doD agreement; Amount of contribution. Voluntary planning agreements are one method of allowing developers to help finance the public infrastructure needed to support development and population growth. The inclusion of Voluntary Planning Agreements (VPAs) in the Environmental Planning and Assessment Act of 1979 (Section 93F) was part of a 2005 developer contribution system reform.

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