Friday, December 5, 2003

Casino money could fund sewers

Fulton County District 2, At-Large Commissioner Robb Pitts is urging Georgia lawmakers and the leadership of the business community to seriously consider casino gambling as a key element in financingAtlanta’s sewer system.

Pitts has pointed out that casino gambling would generate an independent pool of revenue that could be dedicated, among other uses, for the sewer projects providing an alternative for taxpayers facing the entire financial burden.

Casinos could provide particular benefit to low-income households, including senior citizens, who will be hardest hit byAtlanta’s sewer rate increases.

“The two casinos we envision should produce sufficient net revenues to amortize the costs of the City of Atlanta’s $3 billion sewerage system improvements without an increase in sewerage rates,” said Commissioner Pitts.

By committing to allow two full gaming casinos inGeorgia, the state could receive in excess of $300 million in up front licensing fees from casino developers, providing ready capital for the sewer project. Atlantacould take action to protect its water and sewer bond rating by dedicating these and other casino revenues early on to sewer projects.

Pitts calls casino gambling a viable alternative to major rate increases forAtlanta’s sewer financing.