Penn National Gaming releases second study on Tax Increment Fina - KTIV News 4 Sioux City IA: News, Weather and Sports

Penn National Gaming releases second study on Tax Increment Financing

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A proposed rendering of Penn National Gaming's Hollywood Casino. A proposed rendering of Penn National Gaming's Hollywood Casino.
SIOUX CITY, Iowa (KTIV) -

After a public hearing, and a visit to the four possible casino sites, on March 26th, members of the Iowa Racing and Gaming Commission will vote at their April 18th meeting in Council Bluffs, Iowa.

But before that vote, casino operators continue to push for support for their project.

One of them, Penn National Gaming.

They recently had a study done, which shows the Hard Rock and Ho-Chunk's Warrior Casino would cost Sioux City's public schools millions, when it comes to requesting Tax Increment Financing, or TIF.
   
Penn says they wouldn't take any money, which they say only spells revenue for schools.

However, their study conducted by the Iowa-based Strategic Economics Group shows by requesting TIF money, the Hard Rock would cost the school $14 million.
   
And the school would lose even more if the Warrior proposal is chosen. The study shows it would cost the school $20 million. Both casinos have said Penn's numbers are flawed and inaccurate.

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