Sunday, November 23, 2014

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Money starts to flow from Oneida Nation deal

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CNY/NNY/S. Tier: Money starts to flow from Oneida Nation deal
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NEW YORK STATE -- Counties are beginning to benefit from the agreement made between New York state, the Oneida Nation, and Madison and Oneida counties.

Tuesday, Gov. Andrew Cuomo and Oneida Nation representative Ray Halbritter announced the transfer of $11 million to Madison County to settle tax claims.

As part of the agreement, Madison County will also begin receiving $3.5 million annually.

That will come from the state's share of revenue from the Oneida Nation's net win from slot machines.

Starting next month, Oneida County will also benefit.

They will receive annual payments of about $10 to $12 million, along with an additional $2.5 million for the next 19 ¼ years to cover tax claims.

Cuomo said, "With the court's sign off today the money will actually start flowing. Madison, Oneida Counties will be able to start planning for their future, future investments and infrastructure, etc."

In a phone interview with Ray Halbritter, he said, "Now with this revenue sharing with the state, we are true partners. We have strengthened this region's commitment to this shared prosperity today and for future generations."

The agreement also gives the Oneida Indian Nation gaming exclusivity within a 10-county region in Central New York.

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