Gettysburg Borough Finance Committee decided to accept the $1 million in exchange for supporting the casino in Straban Township the committee announced Wednesday, August 9.
The Chance Enterprises was asked by the committee to increase the $1 million payment if the casino’s profits increase as well.
Attorney Jeffrey Ernico, from Chance, told the committee last month that he will not have a hard time getting Chance to agree to a reasonable escalator clause.
Finance Committee Chairman, John Murphy, said “I think the entire council needs to look at this.”
The Final draft of the proposal will arrive Monday, August 14 said Borough solicitor Harold Eastman. At 7 p.m. of the same day, a work session is to be held to discuss the document a half-hour before the council meets.
Last April, the support for the casino proposal was voted by the Gettysburg Borough Council in exchange for a share of profits to be guaranteed.
Last month the agreement was considered, the guaranteed $1 million that the Chance will give to Gettysburg Borough as its profit is approved. The Borough will be helped by Chance to seek at least $2 million if public-share casino funds from the state.
Chance spokesman David La Torre stresses that the proposal is not yet final. He would not comment on the whether the language raising the borough’s yearly revenue would be in the grant proposal from Chance.
La Torre said, “We’re confident everything will be worked out. This project is going to provide more than $1 million to Gettysburg. It won’t just work out for Gettysburg. It’ll work out for everyone.”