Council Members Unhappy with New Casino Development Agreement - News and Weather For The Quad Cities -

Council Members Unhappy with New Casino Development Agreement

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Davenport City Council members said Monday there appears to be a significant change in the latest Scott County Casino development agreement – a change that would leave the city with millions of dollars less than it had anticipated.
 
As of August 29, the city was expecting to garner about $29 million in revenue from the casino over the next ten years. But after reviewing the operating agreement negotiated by the RDA with Kehl that was released today, the city said it estimates it would only get $9.9 million plus an admission tax over the next ten years.
 
As the city projects it would lose money on the new deal, it says the RDA would gain money. The Kehl proposal presented to council in late August, according to the city, would have given the RDA about $34 million in revenue from the casino over the next ten years. But according to the city's estimates, the new agreement would give the RDA $46.9 million over the next ten years.
 
RDA President Mary Ellen Chamberlain said that additional money for the RDA was negotiated so it could properly serve the area's charities.

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