Rockford finance committee considers where to disburse casino tax revenue
The 14-member group shares different views on where the money should go.
The Finance and Personnel Committee in Rockford, Illinois recently met to discuss how to distribute potential revenue generated from Hard Rock Casino Rockford, according to a WVTO local news report.
The city anticipates receiving $7m in tax revenue per year from the local casino. However, members of the committee shared with local news that the process of allocating funds “has been tricky.”
First Ward Tim Durkee explained further by saying, “There’s 14 aldermen and each of us have an idea as to where this revenue should go.
“Personally, I think it should go to public safety, public infrastructure and pensions.”
Though committee members have different ideas on how to spend the money, the group has agreed to allot $1.5m to Rockford Promise. The organization offers financial support to Rockford Public Schools District 205 and its students, specially for students who plan to attend Rock College, Rockford University, Northern Illinois University and St. Anthony’s College of Nursing.
During the recent meeting, the committee considered distributing another $0.6m to Rockford Promise.
Durkee expressed his desire to local news to see funding go to a larger group of students.
He commented, “I think it’s a great investment in our students, but it should be all of our students. Every high school student; home school, private school, public school, any student that qualifies for these funds should have access to it. $2.1m is a good chunk of money and it’s now going to this organization, and I don’t think it should be restricted.”
The committee also discussed distributing $1m in funds to the city’s police and fire building funds, $250,000 to support local arts and culture and $150,000 for high-risk neighborhood economic development.
Tags/Keywords
Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.
Latest News
