TAUNTON (AP) — The Mashpee Wampanoag tribe has agreed to make about $33 million in upfront payments to the city of Taunton as part of a casino deal with the mayor of the southeastern Massachusetts community.

The agreement announced Thursday by tribal chairman Cedric Cromwell and Mayor Thomas Hoye also calls for minimum annual payments of $13 million to the city.

The tribe has proposed a $500 million casino on 146 acres of land at the junction of Routes 24 and 140 in Taunton.

The state’s new gambling law requires casino developers to negotiate a host community agreement.

The deal must still be approved by Taunton city councilors and by city voters.

Under the law, the tribe also faces a July 31 deadline to reach a casino compact with Gov. Deval Patrick.

Copyright 2012 The Associated Press.