Sunday, July 23, 2006

As reported by the Pittsburgh Post Gazette: "A South Side community group
has decided that the best bet for Pittsburgh's slot machine casino is right
in its back yard. "At a news conference yesterday, the South Side Local
Development Co. threw its support behind the bid by Forest City Enterprises
to build a casino at Station Square. "The endorsement came in conjunction
with an agreement reached between the developer and the nonprofit group
under which Forest City pledged to provide money for community-related
programs and initiatives. "As part of a state tax credit program, Forest
City would give $150,000 a year for 10 years to the South Side group for
community projects if it gets the casino license, or $50,000 a year for five
years if it doesn't. "In exchange for the contributions, the developer could
be eligible for tax credits of 70 percent under the Neighborhood Partnership
Program, assuming the arrangement is approved by the state's Department of
Community and Economic Development."