(LaPorte, IN) - The city of La Porte is helping with the cost of building resort-type living units beside Clear Lake. Approval by the city council Monday night was unanimous. Money from tax revenue generated by the development will supplement the $35 million dollar expense. The city’s contribution will total about $6 million payable over a 25-year period, officials said.
Officials emphasize the property does not produce any tax revenue now and no money will be taken from existing tax revenue streams. The developers, Flaherty and Collins out of Indianapolis, plan to begin construction in July.
The 200 upscale units are expected to bring a noticeable shot in the arm to the downtown and surrounding area.