💰 Montgomery County casino plan has strings

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It would create tax revenues, economic stimulus and jobs in a distressed region of upstate, he said. The conditions set by Clairvest are expected to be advanced by elected officials from Montgomery County in the coming days, Parr and Ossenfort said. A casino in the Capital Region would pay a tax rate of 45 percent on slot machine revenues, compared with 37 percent in the Southern Tier and 39 percent in the Catskills. On Monday, the developers will unveil a multifaceted proposal near downtown Amsterdam, according to officials briefed on the plan. Those familiar with the rules of engagement say the Clairvest team is asking for a lot, and it could set off pleas from other groups for similar considerations from the state. The Amsterdam project "is so far away from Albany, it's hard to make the economics work," said Parr. Already, several groups have pulled out of the competition statewide, with at least one in the Catskills saying they can't compete with big guns in Orange County planning projects near New York City. Elected leaders will be appealing to state officials to give their casino development team concessions needed to give a "transformative" economic development project in a struggling region a shot, said Montgomery County Executive Matt Ossenfort. Odato at , jodato timesunion. Also involved is Peter Marcil of Bentley Associates , an investment banking company. The team had to adjust to comply with the bid minimum, which is easier to meet in an area with greater traffic, the developers said. Parr said he thinks the elected leaders will petition the state to keep a compliant bidder alive in Montgomery County because the project is precisely what state officials seem to want. That's what many elected leaders are saying, including Amsterdam Mayor Ann Thane.{/INSERTKEYS}{/PARAGRAPH} He and Parr declined to provide details of their plan, saying it will be shown to the public Monday night at the town of Florida's board meeting, and on Tuesday to the Amsterdam City Council. {PARAGRAPH}{INSERTKEYS}Officials in Montgomery County plan to test the flexibility of the New York Gaming Commission in the coming days in an 11th-hour move aimed at keeping their casino hopes alive. The group also requires a day extension to complete their application because it had to adapt its plan to meet spending requirements released May 12 by the state Gaming Commission. He noted that a Capital Region casino already is set to pay more than any other region's casino. The project site comprises acres, mostly in the town of Florida, but also in the city of Amsterdam, whose elected leaders have shown broad support. But the plan for Thruway Exit 27 site will be moot unless the state agrees to grant a break for the only group that has emerged as potential bidders in the economically depressed western corner of the Capital Region, the project planners and county officials said in interviews. In other regions, the Gaming Commission set a reduced license fee for the less populated parts of the zones eligible for licenses. Both elected bodies are expected to pass resolutions of support for the project; the county legislature is expected to do the same on June Do you have a story about waste and abuse of public funds? The group's requirements are outside the terms set by the Gaming Commission and its siting board, which is requiring all bidders for up to four casino licenses in three regions of the state to submit applications by June Ken Rose , economic development leader for the county, said the state would be made whole eventually. Rose said he also believes the Gaming Commission set the license fee too high for small, struggling counties like Fulton, Montgomery and Schoharie to compete. Contact James M. Marcil, who was raised in Amsterdam, said the community leaders and people in the region he's talked to have shown so much support for the project that it's worth seeing if the state can be flexible.