Wynn Resorts, Limited would make $30 million in advance payments towards the city of Everett, Mass., and more than $25 million annually as soon as a proposed casino opens for organization, in accordance with a host community agreement released Thursday.

The agreement also calls around the Las Vegas-based gaming enterprise to complete the cleanup with the former Monsanto chemical plant and give preference to Everett residents inside the hiring of an estimated 8,000 construction and permanent workers. Wynn Resorts is also anticipated to pay $2.five million per year in hotel and restaurant taxes. The agreement have to be authorized by city voters in a referendum scheduled for June 22.

“This agreement, the initial in the region, marks a significant milestone for the organization and brings the project one step closer to fruition,” Wynn Resorts said in a statement. “We are pleased that we’ve taken this main step in bringing a Wynn Resort to Everett and think that this host agreement treats Everett residents fairly and can benefit the city for generations to come.”

No payments would be produced for the city unless the state’s gambling commission approves Wynn over two other competing bids for any single casino license in eastern Massachusetts below a 2011 law. The Suffolk Downs racetrack and its companion Caesars Entertainment Corp., and Crossroads Resort, which can be operating with Las Vegas-based Warner Gaming, have also produced proposals.

According to the agreement with Wynn Resorts, Everett officials will help the project in obtaining permits, certifications, legislation and regulatory approval. The agreement also calls around the city to lobby state gaming officials for available funds, and pursue development and approval of the Municipal Harbor Strategy.

“As a city councilor representing the location in which we hope to develop a first-class casino, I’m pleased to be involved in this groundbreaking project, that will assist in the continuous restoration efforts of our city,” Everett City Councilor Mike McLaughlin said.

Wynn Resorts has proposed a $1.2 billion resort-casino on a 37-acre former industrial web page on the Mystic River in Massachusetts. A rendering with the program released last month showed a 19-story hotel and casino with restaurants and retail shops along a riverwalk.

“We appear forward to the effective outcome in the referendum and have formally requested to hold an election on June 22,” Wynn Resorts stated. “We appreciate the community’s cooperation as we continue our pursuit in developing this magnificent resort