Richmond Mayor Levar Stoney and other city leaders announced plans Tuesday to establish an early childhood education trust fund that would use gaming tax revenue from the proposed Richmond Grand Resort and Casino.
Stoney and Richmond City Council members Mike Jones and Reva Trammell voiced tremendous support for the re-branded casino project that Richmond voters narrowly rejected in 2021.
The city projects to receive $30 million in annual gaming tax revenue if voters approve a casino just off Interstate 95 in South Richmond.
“I am pleased to announce that we plan to establish the first ever Childcare and Education Trust Fund using the gaming tax revenues from the destination resort and casino if approved this November. This is a groundbreaking approach that will address both affordability and capacity,” Stoney said.
