The MGHPCC and Mayor Morse made the announcement today. A scholarship program for Holyoke public school students was also announced.
The payments will total $80,000 per year which is what the amount of the annual tax revenue due on the property would have been before it was taken over by the non-profit organization.
“We view our voluntary PILOT payments and other investments as just one part of the impressive efforts by City leaders to bring new economic activity and vitality to downtown Holyoke,” says John Goodhue, Executive Director of the MGHPCC.
“The city is pleased with this offer, and with the MGHPCC’s other investments in the City,” notes Mayor Morse. “We are also proud that the computing facility is now part of a growing number of exciting new developments that are attracting new businesses to downtown Holyoke, including the new train platform, Phase 2 of the Canal Walk, the Library renovation and expansion, the renovation of Veterans Park, and the soon to be redevelopment of both Holyoke Catholic High School and Lyman Terrace.”
The scholarship program, funded by the MGHPCC, will provide $10,000 in scholarships annually to Holyoke public school students. Students enrolled at an MGHPCC member university including Boston University, Harvard University, the Massachusetts Institute of Technology, Northeastern University and the University of Massachusetts are eligible.
MGHPCC has invested more than $10 million in Holyoke’s infrastructure to date.