Petersburg has announced creation of a Local Advisory Board to screen requests and make recommendations for funding set aside from Live! Casino Virginia revenue for community projects and city initiative.
The seven-member Local Advisory Board includes three local and state lawmakers, a former Petersburg mayor, the chair of the Petersburg Economic Development Authority (EDA), a former EDA member and the president of gaming operations for the casino co-developer.
Their appointments were announced jointly by the city and The Cordish Companies, co-developer and operators of the Petersburg casino.
As part of the agreement to bring a casino to Petersburg, the city agreed to set aside 5% of each annual benefit payment it gets from Cordish to fund local priorities beyond the city’s normal share of casino tax revenue.
