Friends, Neighbors and Fellow Upper Merion Area Residents:
At the Monument in Valley Forge
At the Board of Supervisors meeting on Thursday, April 26th a presentation was held during which I (on behalf of the township and the entire Board of Supervisors) accepted one of those very, very large checks in the amount of $88,060 from Valley Forge Casino Resort to the Upper Merion Township Foundation. This check (a picture of which can be seen below) is part of one of the two distinct, direct and annual revenue streams that Upper Merion will receive from Valley Forge Casino Resort.
Let’s refer to the first steam as the “general fund stream” as the township will have authority to spend this money the way we wish – or to not spend it. This revenue stream was established by the state law which provided the authority for the slot parlor to open in Upper Merion and it mandates that Upper Merion receive 2% of the take from the slot machines. Subsequently, a second law was enacted which expanded the number of slot machines and added table games, thereby turning the slot parlor to a casino. This second law mandates that the township receive 1% from the table games. Several years ago it was projected that the township would receive $1.2-$1.6 million dollars per year from gaming. The good news is that this projection was prior to the addition of table games. The bad news is that this projection was made before the economy turned sour.
The second revenue stream is one that I’ll call the “community fund.” A few
years ago the township negotiated a separate agreement with the slot parlor to provide the township with $75,000 per year to be used to help those in need in the community. When the law changed and the slot parlor became a casino, the township renegotiated some of the terms of the agreement and the $75,000 per year became $142,500 per year. The big $88,060 check discussed above is a portion of this $142,500. Furthermore, the $142,500 will be adjusted annually for inflation and should the casino receive permission to add more table games or slot machines, the $142,500 will grow in proportion to the increase. The “community fund” revenue stream has understandably already generated a great deal of interest with our local organizations and residents. However a significant amount of work must still be done to determine the application procedures, the eligibility requirements and the structure and the membership of the committee that will allocate these funds, though the agreement with the casino calls for them to have representation on the committee.
Regardless of how you may feel about gambling in Upper Merion, the casino revenue will provide funding for the township as well as helping Upper Merion based organizations and residents. However adding a projected $1.2-$1.6 million annually does not mean that we’re swimming in loot. Nor is it a license to recklessly spend. While I’m sure that all of the Supervisors (including myself) have ideas as to where we would like to see this revenue go, the township has future obligations we need to meet. This Board of Supervisors will be extremely judicious with these funds and equally as prudent in establishing proper procedures and eligibility requirements for those applying for money from the community fund.
Additional Business: On Thursday, May 24th, the Board of Supervisors will hear from the 5 architectural firms who are the finalists to convert the building formerly known as Gold’s Gym/The Factory into a community/cultural center. This meeting will be held at the township building in the board room and is open to the public.
Additional Business, Part 2: We expect to hire our next township manager in the very near future. Right after we make this hire, I will send an email letting you know who we’ve chosen.
Additional Business, Part 3: Would you like to read short, almost daily updates on what’s going on in Upper Merion? By liking my facebook page you can do just that.
Next article: The Tricentennial
If you’d like to receive this article directly by email or would like to address a township issue, feel free to contact me at greg@gregwaks.com.
Sincerely,
Greg
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