City Manager Ken Larking announced that the city has an additional $3.1 million in gaming tax revenue from Caesars Virginia, which could be used to counteract proposed utility rate increases.
Larking explained that $2.4 million of the surplus would be allocated to provide a $10 monthly credit for Danville utility customers. This credit is designed to offset the proposed rate increases of approximately $10 to $11 per month, effectively neutralizing any impact on residents’ bills.
He emphasized that this offset would only be for this next fiscal year.
“The credit, I think that’s something that has to be considered on a yearly basis, based on what revenues are available,” Larking said.
