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Posted on: January 31, 2024

The Municipality Receives Over $50 Million in Voluntary Contributions from Princeton University

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On Tuesday, January 30, the University announced it has pledged over $50 million of voluntary contributions to the Municipality over the next five years. This commitment represents a significant increase in support for Princeton residents, and will directly address the urgent issues of affordability, sustainability, and equity within our shared community. Moreover, the University’s increased support and new allocation framework extends beyond financial contributions for municipal projects and programs to include the critical funding of local nonprofit organizations that aid lower- and middle-income residents. After over a year of being actively engaged in productive discussions with University representatives, the Municipality is profoundly grateful for the relationship of trust and true partnership we have built, and we are committed to working together to preserve the vibrancy and unique diversity of the town.

Council President Mia Sacks, and Councilmembers Eve Niedergang and Michelle Pirone Lambros represented the Municipality in discussions with University representatives. 

“We came to the table as partners with an interest in finding collaborative solutions to issues of mutual concern in the town that we share. This announcement reflects a welcome increase in recent years of cooperation between the municipality and the University at all levels. These open lines of communication will continue — and the foundation laid during this process will help us to maximize the impact of our work together.” - Council President Mia Sacks

"The Municipality is excited to share this news. We were glad to have participated in a new framework for town gown relations which greatly enhanced support for our shared goals of sustainability, equity and affordability. The University has expanded on its commitment to the town in two new areas: infrastructure and transit as well as their ongoing commitment to our underserved community with direct support to community partners and residents who receive Anchor program funding, support from the 101 fund and Housing Initiatives of Princeton." - Councilmember Michelle Pirone Lambros 

"I am very proud to have been part of the negotiating team that brought these benefits to the table for all our residents and key non-profit partners. This marks a decisive step in our efforts to tackle affordability, equity and climate resilience and sustainability. A strong and trusting town-gown partnership was essential to this process." - Councilmember Eve Niedergang

Excerpt from Princeton University's announcement:

 “For decades, the University has made steadily increasing voluntary contributions to the municipality. The new framework, effective this month, outlines contributions to the municipality totaling $39.5 million over five years, which includes $28.2 million in unrestricted cash contributions and $11.3 million dedicated to specific municipal projects and programs. In addition, the University expects to provide $10.8 million over five years to local agencies and lower- and middle-income residents.

The dedicated funding to the municipality will support the following projects and programs:

  • $7.5 million to improve and repair municipal sewer infrastructure.
  • $1.5 million to support the municipal shuttle service.
  • $1 million over five years to support career fire department personnel in the Princeton Fire Department.
  • $1 million to support the municipality’s purchase of a new fire department tower truck and high-water rescue vehicle.
  • $250,000 toward the construction of a new cold-storage facility for the Department of Public Works.
  • $100,000 to the municipality’s Department of Human Services to help provide emergency housing for individuals and families experiencing homelessness.

Additionally, the University intends to provide funding to nonprofit organizations for programs that aid lower- and middle-income residents. These include:

  • Up to $10 million over five years to a nonprofit organization to provide property tax relief for lower- and middle-income Princeton homeowners. Eligible households will be based on income limits set by the New Jersey ANCHOR Program.
  • $500,000 over five years to the nonprofit 101: Fund to support scholarships for low-income students who graduate from Princeton High School.
  • $300,000 over three years to the nonprofit Housing Initiatives of Princeton, to support a rental assistance program for residents and families facing housing insecurity.”

You can learn more about the University’s voluntary contribution by reading the full announcement here: University announces more than $50 million in voluntary contributions to Princeton municipality, local programs and residents

Photo by Denise Applewhite, Office of Communications, Princeton University 

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