Flamboro Slots cash boosts city coffers

News Nov 22, 2006 Flamborough Review

For the second time in three months, Hamilton's coffers got a healthy infusion of new cash courtesy of the Slots at Flamboro Downs. The latest contribution, $1,053,735, arrived two weeks ago.

In October of last year, the city got $1.1 million as its share of Slots revenue for the preceding three months.

Since the Slots opened at Flamboro Downs in October, 2000, the City of Hamilton has received more than $22.84 million in non-tax 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.

Since amalgamation with Hamilton in 2001, all quarterly Slots payments have stayed in Flamborough. A portion is earmarked to retire the mammoth debt for the Borer's Creek drainage project while other money is used to ease the tax burden on Flamborough residents. Joe Rinaldo, the city's general manager of finance, said the Slots money is used to cover the $2.3 million area-rated portion of Flamborough's levy.

When the remaining Borer's Creek debt of $1.5 million is retired this year, area residents fear that Hamilton council will direct future Slots money to projects across the city.

Flamborough councillor Margaret McCarthy has vowed to fight any efforts by Hamilton councillors to use the money for city projects, but pressures to use the funds on projects outside Flamborough continue to mount particularly during budget deliberations which are currently under way.

Flamboro Slots cash boosts city coffers

News Nov 22, 2006 Flamborough Review

For the second time in three months, Hamilton's coffers got a healthy infusion of new cash courtesy of the Slots at Flamboro Downs. The latest contribution, $1,053,735, arrived two weeks ago.

In October of last year, the city got $1.1 million as its share of Slots revenue for the preceding three months.

Since the Slots opened at Flamboro Downs in October, 2000, the City of Hamilton has received more than $22.84 million in non-tax 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.

Since amalgamation with Hamilton in 2001, all quarterly Slots payments have stayed in Flamborough. A portion is earmarked to retire the mammoth debt for the Borer's Creek drainage project while other money is used to ease the tax burden on Flamborough residents. Joe Rinaldo, the city's general manager of finance, said the Slots money is used to cover the $2.3 million area-rated portion of Flamborough's levy.

When the remaining Borer's Creek debt of $1.5 million is retired this year, area residents fear that Hamilton council will direct future Slots money to projects across the city.

Flamborough councillor Margaret McCarthy has vowed to fight any efforts by Hamilton councillors to use the money for city projects, but pressures to use the funds on projects outside Flamborough continue to mount particularly during budget deliberations which are currently under way.

Flamboro Slots cash boosts city coffers

News Nov 22, 2006 Flamborough Review

For the second time in three months, Hamilton's coffers got a healthy infusion of new cash courtesy of the Slots at Flamboro Downs. The latest contribution, $1,053,735, arrived two weeks ago.

In October of last year, the city got $1.1 million as its share of Slots revenue for the preceding three months.

Since the Slots opened at Flamboro Downs in October, 2000, the City of Hamilton has received more than $22.84 million in non-tax 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.

Since amalgamation with Hamilton in 2001, all quarterly Slots payments have stayed in Flamborough. A portion is earmarked to retire the mammoth debt for the Borer's Creek drainage project while other money is used to ease the tax burden on Flamborough residents. Joe Rinaldo, the city's general manager of finance, said the Slots money is used to cover the $2.3 million area-rated portion of Flamborough's levy.

When the remaining Borer's Creek debt of $1.5 million is retired this year, area residents fear that Hamilton council will direct future Slots money to projects across the city.

Flamborough councillor Margaret McCarthy has vowed to fight any efforts by Hamilton councillors to use the money for city projects, but pressures to use the funds on projects outside Flamborough continue to mount particularly during budget deliberations which are currently under way.