The Ithaca Farmers Market is struggling to cover expenses after a promised $3.2 million state grant was only partially paid out, according to The Ithaca Voice. Market leaders are now requesting a temporary rent deferment from the city to manage mounting interest fees and parking costs.
So far, just over $115,000 has been reimbursed, leaving the market to absorb loan interest of $12,000 per month and an unexpected $39,000 parking bill. Leaders hope to make a lump-sum rent payment by year’s end once full reimbursement arrives.
The market says vendor fees have already increased, but the financial pressure remains severe.
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