As some Yale residents may know a few years ago the city commissioners formed the Yale Economic Development Authority. On May 10, 2011 the Authority agreed to give Yale Subway LLC an incentive of 1% of its city sales tax over a 5 year period as a rebate. A maximum of $50,000 is to be rebated. Yale Subway LLC has to request the quarterly payments and submit documentation from its accountant stating the amount of city sales tax paid. YEDA then approves payment in a public meeting. Except for the most recent payment. In the January 2014 YEDA meeting the agenda called for approving a payment, but no action was taken as no report was filed and no request was made. In the February 2014 City Commission meeting a payment of $1237.20 was approved in the “CONSENT AGENDA” of the meeting. The Consent Agenda should only contain items of a routine nature and should not include YEDA items, as they city commission and the development authority are separate entities. After looking back through my agendas I found that it was approved for payment in the October 2013 YEDA meeting. We can ask why a payment approved in October 2013 is not paid until January 2014. (fiscal irresponsibility?, no money to pay it? Incompetence?maybe they just forgot?) but we can be sure it should not have been sneaked through as a Consent Agenda item in a city commission meeting. Another item of interest in the January Consent Agenda is a Library Annex payment of $1,859.45 for a monthly note of $371.89. This is the sort of governing Yale has been subject to for too long. Anyone ready for a change?
Posted on: Sat, 29 Mar 2014 01:41:57 +0000
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