Rensselaer County Hits The Jackpot Even Before Gaming Begins At The New Rivers Casino

By Doug La Rocque
Late last year the New York Racing and Wagering Board announced it was awarding a license to the Rivers Gaming and Resorts group to open a casino along the Mohawk River in Schenectady. Acceptance of this license meant the casino group would have to pay the State millions in dollars in licensing fees. Some of this money is now finding its way to counties around the Capital Region, including Rensselaer County. County Executive Kathy Jimino announced Tuesday that the County’s share was $900,774.62. Jimino said some of the money will help fund additional highway maintenance and improvements, and the rest will be set aside for tax relief in the 2017 and 2018 fiscal years.[private]Tuesday night the Rensselaer County Legislature voted unanimously to accept the funds and by resolution, agreed to the County Executive’s proposed use of the unanticipated revenue. The vote did not come without comment however, as Legislator Peter Grimm, who represents Troy, asked that some of the money be earmarked for use by the city for infrastructure improvements and tax relief. Grimm however, did not attempt to amend the resolution, and it went forward in its original draft form.
Deputy County Executive Chris Meyers told the Eastwick Press the funds were generated from the statewide referendum that allowed the construction of several new casinos, and directed that the licensing fees and a share of future revenues be spent on infrastructure improvements and used for tax relief to offset the added costs of these improvements. Meyers says “any future payments will be based on the casino’s revenue”, but not to expect payments as large as the one announced Tuesday.
Legislative Chairman Stan Brownell, who represents all the towns in the eastern portion of the County, said these funds, along with monies due from the Pave New York program, will allow the County to increase the number of road projects already under consideration or in the pipeline. Brownell shares a concern with County Executive Jimino, as to how much of a demand the vendors that provide the raw materials can meet this construction season. This he indicates “will determine how much more work we might be able to get done in the fall and how much will have to wait for spring.” Brownell said the County has already been able to complete many road projects this summer, including paving and repairs to County roads in Hoosick, Petersburgh, Berlin and Stephentown.
He also endorsed the County Executive’s plan to use a portion of the funds for tax relief and budget stabilization. “Rensselaer County has been one of a select group of counties to stay under the tax cap each of the five years the cap has been in place, while improving our bond rating and fiscal position. These funds will help in that mission during 2017 and the years to follow,” said Brownell.[/private]