Big 6 Casinos

Agreement Signed to Release Funds for Albany

A slate of tourism and economic development projects will be funded by the city's share of Seneca Niagara Casino profits. It a long-awaited agreement signed in Albany Thursday, July 27, 2006.

$23.9 million was released by the memorandum of understanding on the local share of the 2004 and 2005 profits. The MOU is signed by Gov. George Pataki, Senate Majority Leader Joseph Bruno and Assembly Speaker Sheldon Silver. They gave the city $10.6 million to spend for community programs, economic development and infrastructure improvements. An additional $6.1 million was available as additional funds for tourism promotion and health and education groups.

$7.2 million will go to USA Niagara Development Corp, a state-created agency charged with promoting development specifically in the city's struggling downtown.

Mayor VIncenzo Anello said, "This agreement clears the way for the city of Niagara Falls to take action on much needed road improvements, economic development programs and address the quality of life issues that are important to city residents."

Republican state Sen. George Maziarz said, "These funds have been sitting in Albany for far too long and now they can flow back to the local community, which is desperately in need."

The Seneca Indian Nation was allowed to build the Niagara Falls casino under a 2002 agreement with the two other casinos in Western New York. The state receives 25 percent of the casinos profit share.