Newburgh City And Town Forge Agreement On Proposed Casino
Both the City and Town of Newburgh held special meetings Wednesday night, in relation to a proposed casino that would be located in the town.
The Newburgh City Council passed a resolution supporting the proposed Hudson Valley Casino & Resort for the Town of Newburgh. The city also voted to establish a revenue-sharing agreement with the town that will allow the city to receive 15% of an estimated $6.8 million in host community revenues to support the city’s law enforcement and public safety efforts. The town voted for the same. Rita Cox is spokeswoman for Saratoga Casino and Gaming, which is the developer for the proposed resort. She says the revenue-sharing agreement is a first.
“It represents the first time in decades if not ever the city and town have come together on an agreement like this.”
Also, the developer agreed to provide the city with an additional 15% of the total host community revenue.