HomeMy WebLinkAbout2008-02 - Schools First InitiativeRESOLUTION NO. 2008-02
RESOLUTION IN SUPPORT OF PROPOSITION A
THE SCHOOLS FIRST INITIATIVE
WE, 'THE RIVERSIDE BOARD OF ALDERMEN, HEREBY PROCLAIM our decision to
support passage of Proposition A, the Schools First Initiative, which will increase funding for
home dock cities, Missouri schools and other state and local services, and protect Missouri jogs.
WHEREAS, Argosy Casino Hotel & Spa is Riverside's largest employer with more than 1,000
employees;
WHEREAS, Argosy Casino Hotel & Spa represents a $209 million capital investment, $33
million annual payroll, $5 million in lease payments to the City and $2.2 million a yeaz in real
estate and personal property taxes;
WHEREAS, Argosy Casino Hotel & Spa provided $9.2 million directly to Riverside in
admission fees and from its 2% of gaming revenues in the 2007-2008 fiscal year;
WI3EREAS, casinos statewide are important employers and taxpayers in home dock cities,
providing over 12,000 local jobs, $83 million per year from the state casino tax and excursion
fee, and tens of millions of dollazs in local property tax and sale tax revenues that support loc«1
community services and infrastructure improvements;
WHEREAS, Proposition A will generate tens of millions per yeaz in new revenues for home
dock cities and over $100 million per year in new funding for elementary and secondary schools
statewide;
WHEREAS, Proposition A will eliminate Missouri's outdated $500 "loss limit" regulations,
which do not exist in any other state, so that Missouri can compete for casino visitors on an e<lual
basis with other states;
WHEREAS, the Missouri Gaming Commission determined that these complicated and intrusive
loss limit regulations have driven 30 percent of potential Missouri casino patrons to casinos in
other states over the last five years and that, if the loss limit is not eliminated, Missouri wiIl
continue to lose visitors and hundreds of millions in gaming revenues each year to the growing
number of casinos in neighboring states;
WHEREAS, by eliminating the loss limit regulations, Proposition A will both protect and
increase the 12,000 local jobs, state and local tax revenues, and many other economic benefit:.
casinos provide to our state, our citizens and our communities;
WHEREAS, Proposition A also will protect and increase the more than $125 million a yeaz tl-e
$2 per visitor excursion fee paid by casinos now provides of which the home dock cities receive
$1 per visitor for community programs and services, and the state receives $1 per visitor for
early childhood programs, veterans' services, college scholarships, and other programs; and
WHEREAS, Proposition A is supported by a statewide coalition of educators, civic and
community leaders, businesses, and leading organizations including the Missouri Chamber of
Commerce and Industry, Hotel & Lodging Association of Greater Kansas City, Missouri Gaming
Association, Greater Kansas City Chamber of Commerce, Partners for Progress, Urban League
of Greater Kansas City, and Port Authority of Greater Kansas City;
THEREFORE IT SHOULD BE RESOLVED, the Riverside Boazd of Aldermen urge the People
of Missouri to vote YES on Proposition A.
IN WITNESS WHEREOF, we, th Riverside Boazd of Aldermen, do hereby adopt this
resolution this ~~- day of ~y(~- , 2008.
Mayor Kathleen L. Rose