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Bonding for William George Agency Approved

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Bonding for William George Agency Approved

Tuesday, December 15, 2015

The Legislature by a 12-2 vote (Legislators Leslyn McBean-Clairborne and Dooley Kiefer dissenting) approved the issuance of up to $2 million in tax-exempt revenue bonds for the William George Agency for Children’s Services, in the Village of Freeville. The bonds, issued by the Tompkins County Development Corporation, will support financing, refinancing, or reimbursing costs of improvements at the non-profit organization’s campus, including renovation and equipping the Ewald Dining Hall on the campus.

The Legislature’s action has no effect on the indebtedness of Tompkins County; authorization by the Legislature as the County’s governing body is required to exempt the non-profit from taxes on the bonds under the federal Internal Revenue Code. The action renewed Legislature approval more than a year ago, the approval sought again in light of a delay in project schedule. There was some concern expressed regarding the issue of payment of the Living Wage. Legislator Kiefer said her no vote reflects what she sees as deficiencies in completing the bonding application.