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NY slots revenue set aside16 July 2007NIAGARA FALLS, New York -- As reported by the Buffalo News: "When state lawmakers signed a deal to distribute the local share of slot-machine revenue from the Seneca Niagara Casino's 2004 and 2005 operations, they set aside $3.6 million for the Niagara Falls Urban Renewal Agency. "The agreement called for the money to be used for 'economic development to facilitate private investment, private sector job creation and expansion of the tax base within the city.' City leaders have discussed using that money as an economic development tool to foster new private development projects, like building new market-rate housing downtown. "...The mayor and City Council last week agreed to transfer $500,000 of the casino money from the Urban Renewal Agency to rebuild streets, reconstruct sidewalks and tear down dilapidated buildings throughout the city..." |