January 20, 2004
The following principles were presented at the Special Delegation meeting held on Tuesday, January 20, 2004 at 2:30 P.M. A subsequent meeting to vote on these principles has be scheduled for Thursday, January 22, 2004 at 3:00 P. M.
Principles of Prince Georges Gaming
1. Destination Resort Casinos
· A destination resort casino in Prince Georges County will provide dramatic economic and social benefits not provided by a slots-only facility at a racetrack.
2. Local Gaming Commission
· A Local Gaming Commission will give local officials control over the bid process, the license holder, contracting and revenue.
· All Commission members must be approved by a majority vote of the Prince Georges County Delegation.
3. Minority Equity and Contracting
· Language to assure local and minority equity positions for the license holder and minority and local participation in all procurement and construction will guarantee the maximum benefit for local and minority contractors.
4. Community Project Agreements
· The legislation will allow the impacted locality to require community project agreements to be included in any final bid package before awarding a gaming license.
5. Tax Structure
· A suggested tax structure of the gross gaming receipts would include at least 20% for Prince Georges County.
· It is also suggested that 50% of the license fee would go to Prince Georges County.
