Monday, June 30, 2014
Sunday, June 15, 2014
Tuesday, June 10, 2014
Public Notice: Special Meeting
The Town Board of the Town of East Greenbush has scheduled a Special Meeting to be held on Thursday, June 12, 2014 at 4:30 p.m. at the East Greenbush Town, 225 Columbia Turnpike, to consider a site specific resolution for a casino in the Town of East Greenbush.
By orders of the Town Board
Linda Kennedy, Town Clerk
By orders of the Town Board
Linda Kennedy, Town Clerk
Friday, June 6, 2014
Wednesday, June 4, 2014
Casino Financial Impact - the Calculations
I stated in Casino Financial Impact that “I've verified by
my own independent analysis the County, School, Town, Highway, Bruen and Library
estimates using 2014 valuation and tax rate data obtained from the East
Greenbush Assessor and the Casino's estimated $250,000,000 valuation”. Following are my calculations (including the
Fire District and Sewer District). This is NOT a guarantee that the Casino-estimated revenues will actually be received.
I also comment in Casino Financial Impact:
"The figures are called "estimates" for a reason. Actual tax revenue, as I'm sure you know, would be subject to a whole host of influences beyond "our" control, including the Town Board, County Legislature, other Statewide gaming revenues generated, etc., etc. Again, they are called "estimates"."
Rensselaer County
Casino Estimate: $1,491,168
Calculation: $250,000,000 x $5.9646720 per $1,000 = $1,491,168
Town of East Greenbush
Casino Estimate: $694,878
Calculation: $250,000,000 x $2.7795120 per $1,000 = $694,878
East Greenbush School District
Casino Estimate: $5,902,116
Calculation: $250,000,000 x $23.6084640 per $1,000 = $5,902,116
Town of East Greenbush, Highway
Casino Estimate: $398,778
Calculation: $250,000,000 x $1.5951100 per $1,000 = $398,778
East Greenbush Library
Casino Estimate: $215,312
Calculation: $250,000,000 x $0.8612490 per $1,000 = $215,312
Ambulance District
Casino Estimate: $90,492
Calculation: $250,000,000 x $0.3619670 per $1,000 = $90,492
Fire District
Casino Estimate: $210,294
Calculation: $250,000,000 x $0.8411770 per $1,000 = $210,294
Sewer District
Casino Estimate: $209,129
Calculation: $250,000,000 x $0.8365150 per $1,000 = $209,129
Chargebacks
Casino Estimate: $135,134
Calculation: $250,000,000 x $0.5405360 per $1,000 = $135,134
Water District
Casino Estimate: $543
Calculation: N.A. (based on ‘frontage’ not valuation)
= = = = =
| Host Community Annual Share of Gaming Revenues | |
| Town of East Greenbush | $5,700,000 |
| Rensselaer County | $5,700,000 |
| $11,400,000 | |
The NYS Gaming Commission Board states that 10% of State’s
tax revenues will be split between host municipality and host county and estimates the amount for the Capital District to be
$11,416,667.
The Estimated $800,000 in Annual Sales Tax and $6,000,000 in One-Time GEIS Fees are anyone's guess as far as I'm concerned.
Pete Stenson
= = = = =
The Estimated $800,000 in Annual Sales Tax and $6,000,000 in One-Time GEIS Fees are anyone's guess as far as I'm concerned.
Pete Stenson
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