Larchwood, Iowa — Projects from several northwest Iowa communities received around $2000 in a recent ceremony held at the Grand Falls Casino Resort near Larchwood.
Officials from the Lyon County Riverboat Foundation — the nonprofit license holder for Grand Falls Casino Resort — tell us that 27 projects were selected, and a total of $53,905 was given out in their recent “mini grant” ceremony.
Projects and causes in Ashton, Doon, Ellsworth, George, Granite, Inwood, Larchwood, Little Rock, Luverne, Rock Rapids, Rock Valley, Sheldon, Sibley, Sioux Center, Sioux Falls, Spirit Lake, and more were funded.
All grants were for $2000, except for one for office equipment at the Rock Rapids Swimming Pool. They only asked for and received $1,905.
State law mandates a certain percentage of the casino’s gaming take has to go back to the community. The agreement between the casino and the non-profit stipulates that for the first $20 million the casino collects in gambling winnings in a year, they will give the foundation 4.5 percent. When they get up to $20 million, the percentage goes up to 4.75 percent; and when they get up to $30 million, it goes to 5 percent.
The Lyon County Riverboat foundation is set up to give half of the money in grants to county government subdivisions and schools, and the other half to non-profit projects.
