"During its Sept. 10 meeting the six-member committee compiled and approved the list, which asked Bally's to increase its annual $10 million community investment by a minimum of $7.5 million, with a long list of specific groups and initiatives that it wants the casino to fund, specific hiring practices, transparency procedures and commitments to public safety. Bally's committed to increasing its annual contributions to its "Community Benefit Fund" to $12.5 million, the Bronx Times has learned."
"As for the laundry list of youth leagues, senior centers, community theater programs and specific initiatives the CAC asked the gaming company to commit to supporting through the Community Benefit Fund: Bally's officials told the Bronx Times that its intention is for the community to have full autonomy in selecting what programs the funding supports."
The Community Advisory Committee requested that Bally's increase its annual community investment by at least $7.5 million from $10 million and outlined specific groups, hiring practices, transparency procedures and public safety commitments. Bally's pledged to raise annual contributions to a Community Benefit Fund to $12.5 million and to contribute 1% of annual gross gaming revenue if that exceeds the floor. Bally's intends for the community to have autonomy in selecting funded programs. Bally's agreed to involve local CAC members in selecting an 11-member Community Benefit Fund Board and to commit to regular reporting, financial transparency and public forums.
Read at Bronx Times
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