|
|
Published July 12, 2009 11:25 pm - Franklin County and two of its towns submit their proposals for approval by the state on how each will spend their portion of revenue from the Akwesasne Mohawk Casino.
Slot profit split, use explained
Franklin County, 2 towns will share
By DENISE A. RAYMO
Staff Writer
DIVIDING PROFITS YEAR COUNTY TOWN
RECEIVED SHARE SHARE (EACH)
2007 $731,276 $182,819
2008 $575,000 $287,000
2009 $1,262,507 $631,254
Source: Franklin County Treasurer's Office.MALONE — Road projects, tourism and economic strategies for Bombay and Fort Covington could be funded with 2008 Akwesasne Mohawk Casino slot-machine profits, officials hope.
A total of $2,525,014 is to be divided between Franklin County and the two townships most impacted by the casino operations here: Bombay and Fort Covington.
Under a 2004 agreement reached when the St. Regis Mohawk Tribe sought to include slot machines in its gaming operation at Akwesasne, a portion of the annual revenue would be split between the state, counties and towns impacted by the casino.
St. Lawrence County also receives a portion and splits its share with the towns of Brasher and Massena.
State law includes a provision that in operating years one to four, the counties will share 18 percent of slot-machine profits.
During years five to seven, the share increases to 22 percent.
And beginning in year eight and for as long as the casino operates after that, the counties will split 25 percent.
Each entity expecting funds must explain to the State Economic Development Office how it intends to spend its share on economic-development projects or related services.
Once the ideas are approved, the checks are distributed.
For 2008 revenue to be received in 2009, the counties would each keep $1,262,507, and the towns would receive $631,254 each.
COUNTY SHARE Franklin County broke its share up this way:
$53,500 to reimburse the county for Empire Zone administrative costs that expand or attract business and investment.
$404,846 to reimburse the county for the expense of the Franklin County Tourism Office, which promotes the county and its assets to Canada and the United States to entice more visitors.
$691,654 to reimburse the county for highway improvements on roads near the casino, since "an improved and well maintained county-road system has a direct impact on the vitality of the county's overall economy."
$112,507 to offset the county's expenses associated with St. Lawrence Gas's proposal to expand its natural-gas service to Franklin County by extending its existing pipeline-distribution equipment from Moira to Chateaugay.
TOWN SHARES Both Bombay and Fort Covington intend to use a portion of their money to create a comprehensive planning, zoning and economic-development proposal for each of their communities.
Bombay will also pay off an existing loan for its new municipal building, which was built using funds from previous slot-machine-revenue checks.
The Town Council also decided to help existing businesses expand, revitalize crumbling properties and may develop a town Web site in addition to continued commitments to funding infrastructure, roads, sewer, sidewalk, park and play fields to enhance tourism and investment in Bombay.
Fort Covington officials were more general in their description of intended uses for its money, stating in a April 20 resolution that, in addition to creating the economic-development plan, it will help existing businesses expand, improve downtown to increase job opportunities and expand the tax base.
The recent removal of the 100-year-old Fort Covington Dam, using an unrelated funding source, has reopened 35 miles of the Salmon River for recreational boating and fishing.
Fort Covington intends to better market its downtown as a tourist destination for those who enjoy sport fishing for walleye, smallmouth bass, muskellunge, Northern pike, brown trout and rainbow trout.
St. Lawrence County officials will meet with James Fayle, regional director of the Economic Development Office in Syracuse, on Monday, July 20, to discuss its use of its funds, but Massena and Brasher have already submitted their proposals, said St. Lawrence County Economic Development Office Director Ray Fountain.
E-mail Denise A. Raymo at: draymo@pressrepublican.com
|
|
ADVERTISEMENT
Today's Front Page
View P-R Frontpage:
Click on the image of the Press-Republican frontpage to view our frontpage archives.
Subscribe:
Click here to receive a subscription to the Press-Republican for as little as $13.00 per month.
Frontpage Reprints:
Click here to purchase a reproduction of a full page of the Press-Republican.
|
SITE INDEX
NEWS:
Local News,
Police, Fire Courts,
Business,
Money & Markets,
Education,
Environment,
Outdoors,
Politics & Elections,
Births,
Engagements,
Weddings,
Anniversaries,
Property Transfers,
Lookback,
Weather
SPORTS:
Local Sports,
High School,
College,
Youth & Adult,
Sports Shorts,
Outdoors,
Fishing,
Flashback,
Today's Sports Events
OPINION:
Editorials,
Cheers & Jeers,
In My Opinion,
Letters,
Speakout,
Columns,
Blogs
ARTS & ENTERTAINMENT:
Out & About,
Movie Reviews,
Entertainment News,
Celebrity News,
Lotteries,
Crosswords,
Sudoku,
Horoscopes
LIFESTYLES:
People,
Home & Garden,
Health,
Seniors,
Faith & Spirituality,
Family
OBITUARIES:
Current obituaries & search past year,
Obituaries archive,
Guestbooks,
Obituary submission guidelines
PHOTOS, ETC.:
Featured galleries,
Recent newspaper photos,
Bonus Sports,
Community Events,
Full Page Reprints,
Audio Slide Shows,
Video,
Webcams
SEARCH ARCHIVES:
Past 7 Days,
2007 - Present,
1999 - 2007,
Very Old Archives (Historic Newspapers)
LIVING HERE:
Clinton Co.,
Essex Co.,
Franklin Co.,
Day Away
MARKETPLACE:
Classifieds,
Legal Ads
Find a job,
Find a car,
Buy a Classified ad,
Free Coupons, Advertiser Index
ABOUT US:
Contact us,
Advertising Information,
© 2009, CNHI |