Milford Selectmen OK New Foxwoods Agreement
A revised casino proposal from the owners of Foxwoods casino in Connecticut that is more lucrative for Milford has gotten approval from the town’s selectmen.
The board voted 2-1 to approve a host community agreement for a casino along Interstate 495 and Route 16 that would bring the town $32 million in up-front payments and up to $35 million annually for the construction of a 980,000-square-foot facility.
The updated agreement also reflects a new project that would have the casino built as one phase, rather than two. It will be larger than the initial Phase 1 proposal, but smaller than in the two phases combined. Because impact studies were done by the town expecting both phases, they will still be relevant for the new project, the town’s attorneys said.
According to the agreement, Milford will receive a $27.5 million community development grant paid out over four years, with the initial $2.5 million becoming available when the developers receive their building permit. Another $2.5 million will be paid for five years to establish a Residence Impact Fund to compensate residents for losses in home value they may experience as a result of the casino’s presence.
Foxwoods will also pay an estimated $1 million for a new ladder fire truck for the town and another $1.1 million to fund additional fire and police jobs, along with equipment and highway equipment.
The billion-dollar project would generate an estimated $25 million in real and personal property taxes each year and the developer would pay at least $6 million annually in other funding such as school aid and expansion of the MetroWest Regional Transit Authority, according to a comparison of the host community agreements in the state on Milford’s website.
The new proposed development has 500 hotel rooms and 30,000 square feet of banquet and meeting space. The casino will measure 205,000 square feet and employ 6,700. It will include restaurants, bars and 40,000 square feet of retail space.
Town Administrator Richard A. Villani said the final agreement is expected to be signed at Monday’s regular selectmen’s meeting. The agreement would need voter approval to proceed, so following the signing, Foxwoods will need to request a referendum and the board will select a date, which must be at least 60 days later and could mean a November vote.
Foxwoods MA, also known as Crossroads Massachusetts, would be competing for the one resort casino license in the "eastern" zone of the state. The other sites where developers are vying for the license are Everett and in East Boston, at the site of the Suffolk Downs race track.
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