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CITY OF BANGOR Temporary Facility Opens October 2005 $5 M+ Permanent Facility – July 2008 $130 M 400 - 500 Full Time Jobs with Benefits $15 M annual payroll Projected Total Direct/Indirect Impact $211 M Direct Income Growth – 39 M Indirect Income Growth – 69 M Direct Jobs – 1,100 Indirect Jobs – 1,950 ---PAGE BREAK--- CITY OF BANGOR Three new hotels constructed and a fourth under construction $11.7 M in slot revenues M in annual property taxes Population growth of 6.5%, higher than Portland Lewiston and Maine (4.2) Median Household Income Increased 30.4% Maine, Lewiston, and Portland all in low 20’s. Unemployment @ 7.1, compared to 7.7 for state, 7.6 for Lewiston, and 6.0 for Portland ---PAGE BREAK--- CITY OF BANGOR – USE OF FUNDS Auditorium Replacement $65 M Arena and Conference Facility under construction $21 to $28 M in regional economic impact to $11 million in personal income growth 990 to 1,330 jobs supported Downtown and Waterfront Revitalization Implementing Waterfront Master Plan – Folk Festival/Concert series – Private development sites Downtown Revitalization – Upper floor residential; lower floor restaurant/retail; cultural attractions ---PAGE BREAK--- CITY OF BANGOR Culture of the Community has not changed Strong local support for the facility Limited to no organized local opposition Penn National has become a strong corporate presence in the Community supporting the folk festival, summer concert series, and numerous other local causes. ---PAGE BREAK--- LEWISTON PROPOSAL Local Voters approved a casino by a 2 to 1 margin in June 2010 City entered into an option agreement for the Mill 5 site with Great Falls entertainment LLC The City Council recently adopted a resolution supporting Question 3 on the November ballot ---PAGE BREAK--- Direct Gaming Revenues Purpose % Best Medium Worst General Fund 2.0% $950,000 $712,500 $475,000 Joint Expend 0.5% $237,500 $178,125 $ 118,750 Infrastructure 0.5% $237,500 $178,125 $ 118,750 Downtown 0.3% $142,500 $106,875 $ 71,250 Energy 0.3% $142,500 $106,875 $ 71,250 LAEGC 1.0% $475,000 $356,250 $ 237,500 County 0.28% $133,000 $99,750 $ 66,500 TOTAL $2,080,500 $1,560,375 $1,040,250 ---PAGE BREAK--- Indirect Gaming Revenues PURPOSE % BEST MEDIUM WORST Water Quality 3.0 $1,620,000 $1,215,000 $810,000 Rail 3.0 $1,620,000 $1,215,000 $810,000 Bethel Rail 2.0 $1,080,000 $ 810,000 $540,000 Bike Path 0.5 $ 270,000 $ 202,500 $135,000 City of Auburn 1.0 $ 540,000 $ 404,000 $270,000 TOTAL $5,130,000 $3,847,500 $2,565,000 ---PAGE BREAK--- Property Taxes BEST MEDIUM WORST $2,836,900 $2,127,675 $1,418,450 ---PAGE BREAK--- TOTAL POTENTIAL CITY BENEFIT $2.8 M to $4.8 M ---PAGE BREAK--- OTHER BENEFITS New Jobs. 300 to 500 at varied skill levels annual payroll between $8.5 and $14 million. Local Purchases. A wide variety of goods and services will be purchased from within our regional economy, supporting indirect job growth. Redevelop the Mill 5 property. Temporary Construction Jobs and Spending. Jump-Start Riverfront Island Development ---PAGE BREAK--- WHY LEWISTON Brownfield Redevelopment vs. Greenfield Support for an economy that is transitioning Jobs at a variety of skill levels Replace state and federal revenue Revenue to support City investments in downtown/waterfront redevelopment/economic development Recognize tax rate and debt level $50.5 M of $90 M GO Debt for Mill, Downtown, Economic Development