Flamboro Slots money boosts city coffers

News Nov 22, 2006 Flamborough Review

Every three months, Hamilton's coffers grow with an infusion of new cash from the Slots at Flamboro Downs. The latest contribution, $1.1 million, arrived last week.

Since the Slots opened at Flamboro Downs in October, 2000, the City of Hamilton has received more than $21.79 million as its share of gaming revenue. Host communities at slots-at-racetrack facilities receive five per cent of the facility's gross slot machine revenue for the first 450 machines and two per cent for any machines above that number. The municipality determines how the funds are spent.

For the past five years, the Slots money has stayed in Flamborough. A portion was earmarked to retire the mammoth debt for the Borer's Creek drainage project. Other monies have been used to ease the tax burden on Flamborough residents.

As the Borer's Creek debt continues to wane, area residents fear that Hamilton council will direct future Slots money to projects across the city. Flamborough councilor Margaret McCarthy has vowed to fight any efforts by Hamilton councillors to use the money for city projects.

Pressures to use the money on projects outside Flamborough are expected to mount during the upcoming round of budget deliberations as the Borer's Creek debt is retired. The debt will be paid in full next year.

Flamboro Slots money boosts city coffers

News Nov 22, 2006 Flamborough Review

Every three months, Hamilton's coffers grow with an infusion of new cash from the Slots at Flamboro Downs. The latest contribution, $1.1 million, arrived last week.

Since the Slots opened at Flamboro Downs in October, 2000, the City of Hamilton has received more than $21.79 million as its share of gaming revenue. Host communities at slots-at-racetrack facilities receive five per cent of the facility's gross slot machine revenue for the first 450 machines and two per cent for any machines above that number. The municipality determines how the funds are spent.

For the past five years, the Slots money has stayed in Flamborough. A portion was earmarked to retire the mammoth debt for the Borer's Creek drainage project. Other monies have been used to ease the tax burden on Flamborough residents.

As the Borer's Creek debt continues to wane, area residents fear that Hamilton council will direct future Slots money to projects across the city. Flamborough councilor Margaret McCarthy has vowed to fight any efforts by Hamilton councillors to use the money for city projects.

Pressures to use the money on projects outside Flamborough are expected to mount during the upcoming round of budget deliberations as the Borer's Creek debt is retired. The debt will be paid in full next year.

Flamboro Slots money boosts city coffers

News Nov 22, 2006 Flamborough Review

Every three months, Hamilton's coffers grow with an infusion of new cash from the Slots at Flamboro Downs. The latest contribution, $1.1 million, arrived last week.

Since the Slots opened at Flamboro Downs in October, 2000, the City of Hamilton has received more than $21.79 million as its share of gaming revenue. Host communities at slots-at-racetrack facilities receive five per cent of the facility's gross slot machine revenue for the first 450 machines and two per cent for any machines above that number. The municipality determines how the funds are spent.

For the past five years, the Slots money has stayed in Flamborough. A portion was earmarked to retire the mammoth debt for the Borer's Creek drainage project. Other monies have been used to ease the tax burden on Flamborough residents.

As the Borer's Creek debt continues to wane, area residents fear that Hamilton council will direct future Slots money to projects across the city. Flamborough councilor Margaret McCarthy has vowed to fight any efforts by Hamilton councillors to use the money for city projects.

Pressures to use the money on projects outside Flamborough are expected to mount during the upcoming round of budget deliberations as the Borer's Creek debt is retired. The debt will be paid in full next year.