Lago Resort & Casino Application Exhibits V EXECUTIVE SUMMARY Wilmore, Inc., an Upstate family development company since the 1940s, has a history of meeting ‘consumer demands from affordable housing to regional mals fo student housing. Wimerite has developed milions of square feet in the Northeast and remains well sited for development in Upstate New York. Wilmorile formed Whitetail 414, LLC to acquire an option on 84 acres of land northeast of the intersection of the New York State Thruway and NYS Route 414 at Exit 47 in the Town of Tyre, Seneca Counly (an area with lower median Income and higher unemployment and poverty than most areas in Region §). In Docombor 2013 representatives of Wimorite met with, Town of Tyre officials and agreed to fund all direct and indirect cosls to the community and, attor ‘an extensive six-month review costing more than $2 millon, the Town of Tyre passed all necessary ‘approva's and town officials recently parlicipated in the pubic roll out of the "Lago Resort & Casino." ‘his proposal involves a budget of $425 millon - with more than $300 milion in quatiying costs under {ne "minimum capita investment” calcutations (225 percont ofthe minimum required); {guarantee of 1,000 new jobs during operations - with direct and indirect jobs estimated at 1.800; constuction jobs estimated at 1,200 drect jobs and more than 1,800 fotal construction jobs. The ‘Applicant has entered into a Project Labor Agreement and a Labor Peace Agreement; reached egreement with the Finger Lakes Workforce investment Board inaized a Host Community ‘Agreement, paying al drect and indirect costs ofthe Town to Ils saistaction; agreed to fund the. Seneca County Health Offices io address problem gaming issues; finakzed an agroemont with Finger Lakes Community Colege for training and career advancement; and, has agreements with CMAC regarding the local ve entertainment venue. The design of the faciilys meant to enhance the wine and food tourism industry ofthe Finger Lakes and Southem Ter areas. The Applicant will be working wilh loccl businessos fo promote thelr products, has intentionally limited is ‘onsiie hotol fo 208 rooms fo encourage vistors to stay in ocal hotols, and has a cross-promolion ‘agreement with Hart Hotels which owns the Clayton Hotel, Watkins Gien Harbor Hotel and a Hoiay Inn in downtown ithaca ‘Wilmorite has partnered with an experienced casino development and management team. M. Brent Stevens, Jonathan Swain and Natale Schramm were responsible for one of the bes! success slofies inregional gaming. They were the leadership leam behind Ihe development of similar ‘gaming facliios in tho Midwest under the name Peninsula Gaming {now owned by Boyd Gaming). IF this combined, experienced team is awarded « Gaming License in late 2014, they wil have ‘garring operations open in 2015 with all amenities completed by ecaly 2016. Picture a resort featuring a gorgeous premium hotel, state-of-the-art spa, outstanding, locally- Inspired culinary options, and a tasteful, buslling casino. Imagine this resort and casino employing mote than one thousand local residents who can share the'r knowledge of the beauty and hisiory of the surrounding area with more than three millon annual visitors, many making their fist ip to this tourist magnot. See this resort with an orchitectural design, style and ambiance that encompasses and highlights the majestic natural landscape of sprawiing agricultural lands and picturesque lakes and shores. Welcome to the Lago Resort & Casino in Tyre, Seneca Counly, the heat! of the New Yotk's Finger Lakes region, just steps away from Exit 41 of the New York State Thruway. Lago ~ the italian word for lake ~ lakes its inspiration ttom the magnificent Finger Lakes, and nearby geologic featuros Ike the Gorges of Ithaca, surrouncied by some of Now York's most outstanding vineyards and wineries, reminiscent of a part of the Old World right here in Upstate New York. We» Lago Resort & Casino Application Exhibits capture not just the moaning of the Italian fago in what we're creating, but realty the essence of Lago as well. Lago brings together the Finger Lakes and the vineyards and acts as « gateway ‘crawing upon and adciing to the rich history of tourism in the ated including Mark Twain country in Chemung County, Ithaca Gorges, Watkins Glen park and raceway, Coming Museum of Glass, It merges rural, agricultural and suburban wih @ small fown feeling yet big time attraction, Lago's design is not the result of accident or coincidence, nor was it crealed ina vacuum. Its the outcome of sik months of working with and Istening te local residents and businesses. The tociltios {re designed fo reflect the charm and character of the lake and wine region which will be Lago's home. they are designed as low-rise structures, a good distance away from surrouncting residential and agricultural areas, with plentiful green space on the properly. The project wil contract with the local daity farm to buy energy created by the celebrated manure bio-digester process at Lawnhurst Farms cnd incorporate LEED design features. Lago Resort & Casino will attract tourists from near (Rochester, Syracuse, the Southomn Tier) and far {Now York City, Long Island, the Hudson Voley, as well as Pennsylvania, Ohio and Canada). Ii designed as « centerpiece destination resort - working in partnership wih local businesses, arfs and entertainment venues, historic and recreational sites - that will create thousands of new jobs, significantly boost economic activity throughout the region and serve as c catalyst for unifying the diverse communities throughout this region. The vision - simple yet expansive ~ is for Lago Resort & Casino 1o become the centerpiece of the region, attracting new visitors and detvering quality services and a vaivable entertainment ‘experience in c comfortable envronment which will keep visitors returning again and ogain. Lago Resort & Casino is prepared to commence construction - employing a New York State. contractor - within one waek of being awarded a casino icense. Lago is shoveleady, has completed the State's SEQR process and has received all local approvals required for construction. In addition, « project labor agreement (PLA) has been entered into with the Finger Lokes Building Trades Council and its 19 atfiiated labor unions fo ensure efficient, safe, quality, and timely completion of the project, guaranteeing the employment of local tradespeople. The Town Board of Tyre voted unanimously in support of a resolution supporling the project. The Tye Town Board also unanimously approved the proposed development pian, ste plan and host community agreement. All potential impacts were addressed to the Town's satistaction. Lago Resor! & Casino no! only has the suppor! of our host community, Tyre, we have the strong suppott of the Seneca County Board of Supervisors, he Seneca County Town Boards of Covert, Lodi, Seneca Falls, Vatick, and Waterloo. Lago is aso stronaly supported by the Schuyler County Legislature and Wayne County Board of Supervisors. In addition fo the overwhelming support from the local governments, Lage has the support of the Seneca County Chamber of Commerce, IDA and Advisory Commission on Toutism: the Rochester Business Aliance; and, vitualy every local union afficte. Well over 100 local businesses, wineries, breweries, csteties have also committed thek strong suppor for the project, The Seneca County Planning Department has confirmed this project is consistent with the Regional Pian. ‘With 100 percent of financing for construction and operations fully in place, Lago Resort & Casino's gaming facility can be completely constructed in 18 months. All gaming related program areas, restaurants and structured parking will be open within 14 months of being awarded a casinolicense. All other facies, including the hotel and spe, willbe completed and open within 18 ‘months of license approval ‘Once completed and opened, Lago's fullservice casino will feature 85 table games and 2,000 siot machines. I will gonorate $263 millon in gaming revenue ints fis! year, with revenue expected to grow fo $348 milion by 2026. Over $54 millon of gaming revenue willbe “repattiated” to New York by out of slate visitation and faking back revenue currently lost to other States, While approximately half of that $243 milion fist-year gaming revenue is expected fo be drawn, {rom existing New York gaming facies (21 percent from existing New York racinos and 30 percent {rom current New York Native American faciliios}, the other half forecasted fo be new gambling revenue 1o New York State, including the 14 percent that will be "repatriated" from gambling facilities outside of New York. ‘AV the outset, the $268 milfon in gaming revenue results in Seneca Counly and the Town of Tyre being able to expect fo receive approximately $6.45 milion in tax and fee revenues annually ond New York State being able to expect approximately $85 annually milion in tax and fee revenues. Additionally, local governments can expect approximately $5.9 milion and New York State can ‘expect approximately $46.7 milion in one-time tax and fee revenues from expenditures resulting {rom the development and construction of the Lago Resort & Casino. ‘Once completed, the Lago Resort & Cosino wil create approximately 1,800 permanent jobs for New York residents, Lago Resort & Casino’s payroll wil be approximately $50 milion annually. Lago has already reached agreements with and wil pariner with the Finger Lakes Workforce Investment Board and Finger Lakes Communily Colege 10 help rectut, train and hire as many local residents as possible. Lago ls committed to working with those entiies to try and employ unemployed, long- ‘term unempioyed, underemployed, veterans and other New York residents, Lago hos adopted an Affirmative Action Program, Is wotking with Various Veteran Groups and has Included the helmet fo harchats provision in the PLA. Throughout the hing of employees both for consituction and permanent jobs, every consideration will be glven to boosting paiticipation by minority and women owned businesses and to ensuring that Lago's workforce is diverse and reflects the face of New York, {In adtion, Finger Lakes Community College will create a curiculum and offer @ pre-employment Dealer Training School and a career track course for mid-level management, All of hese actions token together - along with Lago's commilment 1o purchase at leas! 90 percent of the available ‘goods and services they buy from New York vendors - will provide an adalional major economic boost for families and communities hroughoul the Finger Lakes and help solidify Lago’s place as on ‘economic and social centerplace for the entire region. When guests arrive at Lago, their entertainment, shopping and culinary opportunities will bo plentiful, and more importantly, extraordinary. And that's before visitors head out fo enjoy local restaurants, stores and entertainment venues, which willbe ctoss-promoted, as many of these venues and businesses are participanis in the Lago Rewards Partners program. Restaurants planned for Lago include everything trom a New York pizza stand fo the Formers ‘Market Buffet, featuring locally secured produce, fulls, dary products, meats and more, to Portico, ‘a contemporary interpretation af c charming lakeside eatery, which willbe the finest steak and seatood restaurant in ihe region. The assoriment of restaurants was carefully selected fo appeal lo ail fargel markets, and all wil of course — feature local wines, brews and distiKed beverages. Plus,Lago Resort & Casino Application Exhibits Centifico is one of the mos! exciting lounges and bars that wil be found in the enlire region, and ‘The Vine, which wil feature the hotest big name entertainment, the coolest local drinks and a menu complete with fun food, much of it local. Lago visitors wil rash Savor New York, where local vandoxs wil bring the region directly to them with a wide vatiety of local fils, cheos6s, inesistibly delicious baked goods, and other area specialties ‘And they'll be right at home in Shop New York, featuting Lago gear, as well as quallly merchandise, gifts and products macie in New York. ‘Additionally, Lago wil feature a 10,000 square foo! fuservice spa featuring massages, facials, ‘wraps, as weil os @ nail salon, styiing salon and relaxation ioungo. And the pool area will be spectacular, encompassing about 40,000 square feel, able to accommodate up to 900 guests From the vineyard and wineries, browerles and disteties to the Qutlet Mall, local shops and galleries fo the state and local parks, amusement and theater venues and national historic stes, Lago’s concierge service will be helping guests see, feet and explore the Finger Lakes and ils, attractions ike they never have before ~ and for many of the guests this wil be their fist time, With more than two dozen local businesses already enrolled in the Lago Rewards Partners program, nd scores more expected 10 join, guests wil have unlimited opportunities fo oxplore. And Lago Rewards Players Club members wil be able to uso their points eamed at Lago to buy local goods and services trom Lago Rewards Partners. the entire local economy will benef from Lago’s direct and indirect spending, further cementing Lago as a regional centerpiece. When they are not exploring the myriad of attractions in the magnificent Finger Lakes region, or spoling themselves in the spa, or treating themselves fo a marvelous meal, Lago guests wil have 24-hour access to a casino second to none in New York, Both frequent and casual casino vistors ‘wil want to join the Lago Rewards Playors Club and avail themselves of al the special perks of membership, which are as good if no! better than any similar casino club in the state or nation. Although most adults enjoy gambling for the entertainment i's intended fo be, Lago will ko actively encourage responsible gambling and provicie extensive services for those who have or fee! they may have problem gambling isves. Lago’s Responsible Gambling Resource Center wil bo there for those who need help, providing information about safer gambling practices and roferral to problem gambling treaiment it desired. awarded one of New York's casino licenses, Lago Resort & Casino wil be ready to open its doors to guests within a year and a half. wil quickly become the centerpiece of one of the state's top tours! andl vacationing regions. i will provide significant, positive economic impact fo local governments and to the Slate of New York—~ more {han $90.8 milion annually and approaching $1 bilion in dishibutions by 2026. This developmen’ fis is environment well and by design, has Positioned Lago fo become an integral part ofits communily. The Finger Lakes’ newest and most ‘exciting tourist destination conterpioce is Lago Resort & Casino.