FAQ: Community of Leominster Questions

What are the benefits to Leominster, financially speaking?

Leominster stands to gain significant financial benefits from the Host Community Agreement with Baystate Racing. The city will receive an Annual Community Impact Fee, starting at $300,000 per year before the racetrack opens and increasing to $1 Million annually once the track is operational, with a 2.5% yearly increase after the third year.

In addition to this guaranteed revenue, Leominster will receive a share of gaming revenues:

• Live Racing & Simulcast Betting – 0.5% of net revenues for the first three years, increasing to 1% by year eight, with a minimum annual payment starting at $100,000 and growing over time.

• Sports Wagering – 0.5% of net revenues for the first three years, increasing to 1% by year eight.

• Other Gaming Activities – 0.5% to 1% of net revenues, with a 2% share if internet gaming is approved in Massachusetts.

Additional financial benefits include:

• An Initial Community Benefit Payment of $300,000 within 30 days of approval.

• Reimbursement for legal and consulting fees related to the project.

• Guaranteed Meals Tax Revenue, with Baystate required to pay the difference if revenue falls below set thresholds.

• Late Payment Penalties, ensuring timely payments with a 5% penalty for overdue amounts.

These payments, along with increased local business activity, job creation, and tourism revenue, will provide Leominster with a steady and growing financial return from the racetrack development.

How does this venue plan on benefiting the community of Leominster?

The venue will provide significant benefits to the Leominster community across economic, recreational, and social aspects. Financially, the city will receive $300,000 per year before the racetrack opens and increasing to $1 Million annually once the track is operational, with a 2.5% yearly increase after the third year, along with revenue from gaming activities, sports wagering, and property taxes. This revenue will support city services, infrastructure, and public programs without increasing local taxes.

Community enrichment is also a key focus. The venue will offer free public access to the track for recreational activities, youth riding lessons, and equine therapy. Additionally, Baystate Racing will host at least one free annual event for local charities, schools, and community organizations. An education and mentoring program will introduce students to equine care and career opportunities in the industry.

To support local businesses and employment, the venue will prioritize hiring Leominster residents and working with local vendors, contractors, and suppliers. Job fairs will be held to connect the community with employment opportunities.

Finally, public safety and infrastructure improvements are built into the plan. Baystate Racing will fund traffic impact studies, road enhancements, and security measures, ensuring minimal disruption to surrounding neighborhoods. 24/7 video surveillance and collaboration with local law enforcement will enhance overall safety at the facility.

Overall, the project is designed to stimulate economic growth, provide entertainment and recreational opportunities, and improve community infrastructure, making it a valuable addition to Leominster.

Can all walks of life have fun here? Describe activities for different demographics.

Yes, the venue is designed to offer something for everyone, ensuring that all walks of life can have fun and enjoy unique experiences.

For sports enthusiasts, the venue features a sports bar, exciting wagering opportunities, and sports game simulations, offering an immersive experience for fans of all kinds.

Families can enjoy activities that is fun for everyone, including seasonal fairs and festivals, local food and fare, sports game simulators, providing entertainment for the whole family.

The mental health community will benefit from a dedicated horse therapy program, offering a supportive and therapeutic environment that fosters healing and well-being.

Equine enthusiasts can enjoy the thrill of thoroughbred racing, immersing themselves in the world of horses and racing in a vibrant setting.

For event planners, the venue features a versatile pavilion, ideal for hosting a variety of events, whether for concessions or as an event space, creating a perfect location for any gathering.

This diverse range of activities ensures that there is something for everyone to enjoy and participate in, no matter their background or interests.