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The Council unanimously approved the issuance of $93 million in revenue bonds for the Hobart and William Smith Colleges Project. The resolution states that the City of Geneva and other political subdivisions will not be liable for repayment.
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The bond approval allows the City of Geneva Local Development Corporation to issue financing for the Hobart and William Smith Colleges Project without making the city responsible for the debt. The Council also approved the sale of 32 Middle Street to return the property to productive use and the tax rolls. It scheduled a public hearing on the proposed sale of 38 Jackson Street and appointed Kyle Olschewske to the IDA Board.
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