SPRINGFIELD, Mass. (WWLP) - How much is MGM's investment? Springfeld city council President Jimmy Ferrera says that's what's missing from the city's host community agreement with MGM.
Ferrera is asking that one sentence be added to the host agreement stating MGM's minimum investment. Wynn's host agreement in Everett has a similar sentence. Ferrera told 22News he has been getting conflicting figures in terms of MGM's investment.
The city council will hold a special meeting Friday night about the host community agreement.
Below is a letter Ferrera sent to Mayor Domenic Sarno and MGM President Bill Hornbuckle:
Dear Mr. Hornbuckle and Mayor Sarno:
I'm calling upon the President of MGM Resorts William Hornbuckle and Mayor Sarno to add one sentence to the host agreement which exactly the same sentence Steve Wynn agreed to in Wynn's host agreement with the City of Everett , Massachusetts. The sentence from the Everett host agreement states "one shall invest not less than one billion dollars in the development of the project." Except for the company name and amount Springfield's host agreement could have the same sentence.
Today (Wednesday) we have the Springfield Redevelopment Authority claiming MGM's investment is something less than $800 million, the Chief Development Officer of the City saying it's something more than $800 million and MGM clearly stating in their phase II application with the city that it is $851.5 million. On March 12, 2013 at a Springfield City Council meeting Bill Hornbuckle agreeing to put the $850 million dollar investment amount in the host agreement bud did not happen. Finally today while having a conversation with the Attorney representing MGM stating the total project investment would be $801million.
Let's end the confusion and what can be misleading to the public and adopt the simple little sentence that is already in the Everett host agreement. Quite frankly if the Mayor and MGM can't quickly agree to inserting a "not less than investment amount" into the host agreement I would have serious reservations about the entire project. Please feel free to contact me at 413-246-5506.
James J. Ferrera, III
City Council President