City approves reimbursement plan
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UTICA, N.Y. -- It was the final vote needed for the Utica City School District to get the funding they've been waiting months for.
Common Councilors approved a resolution Wednesday night, clearing the way for the district to apply for a $1.4 million loan, which will be paid back in full by the city.
The money was supposed to come from property tax dollars collected by the city, but due to financial strains, that money never arrived.
The district agreed to take out the loan since it has a better credit rating, but the sum, along with fees and interest, will be paid back in the next year's time.
Council members who approved the plan say they were happy to see the two parties come together to fix the problem.
"We put our hand half way across the table and they reach the other hand the other half, so that's really good and that's a positive step that should be encouraging to the people of the city that the school district and us can really work together," Utica Common Councilman Joseph Marino said.
The proposed resolution will now go to corporate council, where they will put it into a formal agreement. Councilman Marino says it could take about a month or two for all the paperwork to be completed and signed.