To the editor:
I would like to address the issue of how Tiverton will use the $3 million from the casino revenue.
As a member of the Casino Subcommittee, I heard much discussion on how the town …
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To the editor:
I would like to address the issue of how Tiverton will use the $3 million from the casino revenue.
As a member of the Casino Subcommittee, I heard much discussion on how the town could best use this money. The town administrator of Lincoln visited twice to share that town's experience with Twin River revenue. Financial experts advised us to use the money to reduce debt when no penalty is incurred, to add to the pension fund and to supplement the cash reserve. Also to identify critical capital projects such as drainage and infrastructure improvements, and to start a Capital Improvements Fund so we don't have to borrow as much money.
All of these items will lower our taxes. We were warned to not use it for the operating budget because if a fire, hurricane or other disaster closed the casino, revenue would end and taxpayers would have to make up the difference.
With a roughly $50 million town budget, our $3 million from the casino revenue needs to be used wisely. Vote to approve the Charter Amendment.
Carolyn Wieman
Tiverton