Former Caterpillar CEO says Peoria missed out with casino settlement
Former Caterpillar CEO Doug Oberhelman criticizes the Peoria City Council for rejecting a $1.8 million annual settlement offer from Boyd Gaming.Summary
Former Caterpillar chairman and CEO Doug Oberhelman expressed his disappointment with the Peoria City Council's decision to reject a settlement offer from Boyd Gaming regarding the casino project. He stated the offer included a $1.8 million annual cash payment to the city for 20 years, in addition to existing revenue sharing. Oberhelman argues this was a significant missed opportunity, equivalent to the property tax revenue from 400 new homes annually for two decades. While pleased Boyd Gaming is investing in the region, he believes keeping the $1.8 million within the Peoria area would have been more beneficial than allowing it to go to shareholders. He laments the lack of accountability for the decision and urges Peoria taxpayers to understand its consequences.
(Source：Peoria Journal Star)