Another acre of the Hammond, Ind.'s lakefront has been sold to Horseshoe Casino for its expansion.
The Hammond Redevelopment Commission, which has authority over development activities in the lakefront marina area, approved the sale in exchange for a $2.75 million payment to the Port Authority, the Times of Northwest Indiana reports.
Horseshoe will demolish the Hammond Yacht Club building on the property to expand its parking garage as part of a $485 million plan to build a new casino just east of the marina.
The marina property is actually owned by the Hammond Redevelopment Authority, which leases the land to the Redevelopment Commission, which, in turn, subleases it to the Port Authority.