The first mitigation payment to the City via the Host Community Agreement (HCA) still hasn’t been received this week in full at City Hall – now approaching 30 days late for the estimated $6.8 million initial installment.
By all accounts, it hasn’t been a great start for the monetary relationship between the resort and its host city, but Wynn officials in Las Vegas said the matter would be straightened out by Wednesday.
City officials confirmed that despite the payment being due on Sept. 30, they still had not received the Payment in Lieu of taxes and another payment as well. The smaller Impact payment had been paid, they said.
City officials said they are in talks right now to get things straightened out.
After being asked by the Independent, Wynn spokesman Michael Weaver said he expected the matter to be resolved by the end of the day Tuesday, Oct. 22.
“The matter has been resolved with the City of Everett and the payment is being processed today (Tuesday),” he said late on Tuesday afternoon.
The overall payments annually are to total up to more than $25 million to the City, and via an agreement, the payments are to be made in four installments.
A small payment for the last week of June was made in July, but the first full, highly-anticipated installment was due on Sept. 30.
In contrast, a $2 million payment due to Boston for mitigation to Charlestown has been paid, and was paid early.
City officials were confident it was going to be worked out very soon, but the problem has lingered now more than three weeks.