NEW: Foxwoods Reaches Host Agreement with Town of Milford
Tuesday, September 10, 2013
After a passing a resolution by a 2-1 margin, despite Chairman William Buckley's opposition, the Milford Board of Selectmen has signed a host agreement with Foxwoods Resort and Casino, and will allow residents of the town to decide whether or not plans will go forward to build a $1 billion resort in Milford and move the process to the next stages of development.
Selectmen Brian Murray and Dino DeBartolomeis voted in favor of the measure.
The election date has been set for November 19. If approved, a Special Town Meeting will be called to rezone the allotted land at the junction of interstate 495 and Route 16 to complete Foxwoods' application for a casino license in the state and in Milford specifically.
The formalized agreement states that the town will bring in more than $30 million a year, add 3,500 permanent jobs and earn an initial mitigation payment of $32.1 million to offset the devaluation of properties. It will also pay an additiona; $2.5 million for an additional 10 years for this purpose.
According to the agreement, Foxwoods will also contribute $7 million a year to hire additional police and other emergency workers and pay $25 million a year in property taxes.
Foxwoods projects the casino could bring in 7 million visitors a year.
In addition to Foxwoods, Mohegan Sun has also brought forward plans to build a resort in the Central Mass area and Penn National continues to attempt to build slot parlors in the area.
For more information please visit the Milford Town Website.
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