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1/22/2008 12:20:17 PM
 
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Section 5: OPA Board Subject: Board Punts on Slots Msg# 527425
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Purcell, Rakow, and Sterrett have done this community a great injustice by deciding to not even try for a percentage of slots income. Oh, I am not so sure this is the worst thing under current circumstances. Personally I am pleased that the Board at least addressed the issue. True they were a little late and had to have a little push to do so but it represents a change from the isolation of the past. I doubt there was little chance that the legislation that allowed Berlin and Ocean City to have a set percentage would have been changed as the lawmakers would be fearful of opening the Pandoras Box further than they already did. My position would be different had the Board had the foresight to get on the issue right from the beginning. It may have made more sense originally to have the County in sole control of any slots disbursement but politics rules as usual. The downside to Ocean Pines of course is that we have only 1 1/2 County Commissioners representing our interests and their leverage in obtaining funds for us is basically their "vote" in support of fellow Commissioner projects. We could possibly look at increasing OPA assets by taking our low performing reserve funds and should slots arrive placing them all on "RED". |
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For reference, the above message is a reply to a message where: The only thing established here is that this board decided, as is typical, to take the easy way out. To suggest that the county and some development council is going to provide OPA with more funds than if OPA was allocated 10%, as was Berlin, is patently absurd. If this were a fact then Ocean City and Berlin would be taking steps to have their respective 20% and 10% shares eliminated so they could obtain more funds from the development council. It was established that under projected, optimum conditions, that the maximum amount of “slots revenue” that would be generated to Ocean Pines, if Ocean Pines was classified as a community that had a “10%” share of a surplus,” would be approximately $300,000 - $500,000 per year rather then the purported “millions of dollars” that have been speculated on. Pure and absolute spin. The $300,000 - $500,000 number above is the number early on in a slots operation. As time goes on the revenue is likely to increase an dit is not unreasonable to assume a return to Ocean Pines of $1 million per year, and possibly more. The quote above about purported millions of dollars is just rhetoric to help justify this decision. It was the opinion of Directors Purcell, Rakow, and Sterrett that Ocean Pines would be better served, in the long run, by enhancing and maintaining a close, working-relationship with the Worcester County Commissioners on any slot-related issue or any revenue sharing issue rather than demanding Ocean Pines be designated a specific percentage of some anticipated, but unknown, “slot” revenue. We believe that through this relationship, Ocean Pines would be given a fair consideration from the impacts of “slots” and other economic matters affecting our Association. Right, let's depend on the generosity of Worcester County. Purcell, Rakow, and Sterrett have done this community a great injustice by deciding to not even try for a percentage of slots income. |
