By Nathan Mayberg
ALBANY April 4, 2006 Sullivan County, particularly the Town of Thompson and Village of Monticello, received a major boost from new state legislation on Friday which will give them a portion of the proceeds from revenue generated at the video lottery terminals of Monticello Raceway.
Exactly 3.5 percent of revenues from the video lottery terminals at the Monticello Raceway will now be returned to the Town of Thompson, Village of Monticello and Sullivan County due to a new bill passed by the NYS Legislature and pushed by Assemblywoman Aileen Gunther.
The town and village will receive 75 percent of the funds, while the county will pick up 25 percent of the estimated $1.34 million in revenue.
The racino increases tourism and economic development in Sullivan County, said Gunther. Under this agreement, it will now offer an added benefit to these communities by providing much-needed revenue to help power local taxes.