MGM Springfield Host Community Agreement: What You Need to Know
If you`re a resident of Springfield, Massachusetts, you may have heard about the MGM Springfield Host Community Agreement. This agreement was signed in 2013 and outlines the responsibilities and benefits for both MGM Springfield and the city of Springfield.
Here`s what you need to know about the MGM Springfield Host Community Agreement:
What is the Host Community Agreement?
The Host Community Agreement is a legal document that outlines the responsibilities of MGM Springfield and the city of Springfield. The agreement was signed in 2013 before the casino was built and outlines the terms of the relationship between MGM Springfield and the city.
What are the responsibilities of MGM Springfield?
Under the agreement, MGM Springfield is responsible for paying $25 million in upfront payments to the city of Springfield. The casino is also required to pay an annual fee of $17.6 million to the city. In addition, MGM Springfield is responsible for investing in the infrastructure of the city, including rebuilding a section of Main Street and upgrading the Union Station transportation hub.
What are the benefits for the city of Springfield?
The Host Community Agreement provides significant benefits for the city of Springfield. In addition to the upfront and annual payments from MGM Springfield, the casino is expected to create jobs and generate revenue for the city. The agreement also requires MGM Springfield to prioritize hiring local residents for jobs at the casino.
In addition to these financial benefits, the Host Community Agreement also requires MGM Springfield to invest in city infrastructure projects. The casino is also required to provide community benefits, such as funding for public safety and education programs.
Conclusion
The MGM Springfield Host Community Agreement is an important document that outlines the responsibilities and benefits for both MGM Springfield and the city of Springfield. The agreement provides significant financial benefits for the city, as well as community benefits and investment in infrastructure projects.
As the casino continues to operate and grow, it will be important to monitor the implementation of the agreement and ensure that both MGM Springfield and the city of Springfield are fulfilling their responsibilities. Overall, the Host Community Agreement provides a framework for a mutually beneficial relationship between the casino and the city.