Revenue from the Twin River Tiverton Casino Hotel will be restricted in a capital account for another year and a committee will be formed to decide how it should be spent.
The proposal, discussed and approved at the Town Council meeting Monday, was contentious.
A council majority voted to remove the June 30, 2021, sunset clause on the current ordinance that was put in place last August 5 to both restrict casino revenue to a capital account and use it to shore up the general fund reserve if it falls below 3% of the annual budget. The sunset will now be June 30, 2022, although the council can dip into the fund in an emergency. The current balance is $575,000.
There was opposition to the move from some council members, a School Committee member and some residents.
