City of Boston Host Community Agreements: A Guide to Understanding
If you`re a business owner or operator in the City of Boston, you may have heard of the term “host community agreement” or HCA. This agreement is a legal contract that outlines the terms and conditions between a host community and a proposed gaming establishment. In this article, we`ll discuss what host community agreements are, their importance, and how they impact the City of Boston.
What are host community agreements?
Host community agreements are contracts between a host community and a prospective gaming establishment. The agreements typically address the potential negative impacts of the gaming establishment on the host community and spell out the compensation the establishment must provide to the local government to help offset these impacts. The agreements can also define the terms of the relationship between the gaming establishment and the host community.
Why are host community agreements important?
Host community agreements are important for a few reasons. First, they serve as a way for local governments to make sure that gaming establishments do not negatively impact their communities. The agreements may address concerns such as traffic congestion, increased crime, or other negative impacts on quality of life. Second, host community agreements are an opportunity for local governments to receive compensation from gaming establishments for these impacts. This compensation can be used to mitigate the negative impacts of the gaming establishment and support community programs and events.
How do host community agreements impact the City of Boston?
In the City of Boston, host community agreements are a critical aspect of the city`s economic development strategy. In 2011, Massachusetts passed a law that allows for the licensing of one slots parlor and three resort casinos in the state. As a result, the City of Boston has been negotiating host community agreements with prospective gaming establishments.
The City of Boston has already signed two host community agreements with Wynn Resorts and MGM Resorts International. The agreements specify that these companies must make annual payments to the city equal to 2% of their gross gaming revenue. These payments will be used to fund community projects and mitigate negative impacts.
The City of Boston is also negotiating a host community agreement with the developers of a proposed casino in Everett. The agreement is expected to address concerns such as increased traffic, noise, and environmental impacts. The developers have already agreed to invest $30 million in transportation improvements as part of the agreement.
In conclusion, host community agreements are an important aspect of the gaming industry in the City of Boston. These agreements ensure that gaming establishments do not negatively impact local communities and provide compensation to mitigate any negative impacts. As the city continues to negotiate host community agreements with prospective gaming establishments, it is important to understand their importance and impact on the city.