New York Casino Fees Distributed to Local Communities
New York State officials announced that the total of $151 million in licencing fees for three upstate casinos that are currently being built in Tyre, Thompson and Schenectady will be distributed to local communities for education aid.
State wide education aid programme receives eighty percent of the licencing fees, while the rest of 20% will be doled out to the twenty counties and three municipalities where the casinos are constructed, according to the Washington Times.
Broome County will receive $2.4 million, while Tomkins County is in line for a payoff in excess of nearly $1.2 million. Tyre and Seneca County are each getting close to $2.6 million.
“This funding will help counties and local governments provide essential services to their residents, as well as work to reduce their tax burden”, Gov. Andrew Cuomo said in a statement.
New York passed a law in 2013 which approved change in the state constitution to allow up to seven casinos in the state and a state law required that the first four be located in three regions of the state: the Catskills, Southern Tier and Capital region.
The State Gaming Commission issued the casino licences to three of the four casinos last year, while the fourth casino is yet to receive an approval.