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A group of investors have petitioned Lewiston officials to consider selling the former Bates Mill No. 5 property scheduled for demolition for the purpose of building a casino.
City councilors are expected to meet this week to discuss placing a referendum on the June ballot asking voters to approve the deal at a citywide ballot initiative.
Great Falls Recreation and Development has negotiated the wording of the referendum with the city, which calls from them to pay $150,000 in installments for an option to buy the property, if approved by voters.
However, in addition to the citywide vote, development plans for the gaming facility could not move ahead until Maine voters authorized it on a statewide ballot.
A statewide vote could be held in 2011, at which time the group would negotiate the final price of the land with the city, based on its market value, and put $100,000 of the option payment toward the final purchase.
City administrator Edward Barrett said a Lewiston casino could generate approximately $2 million a year for the city in property taxes and an at least an additional $1.5 million in gaming revenue.
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