As reported by: The Associated Press via WHAS11
After years of waiting, Orange County residents will gather this week for a ceremonial groundbreaking for Indiana's newest riverboat casino - a project that carries great hopes for the economically struggling county.

Actual earth-moving on the project work won't begin until October, but Tuesday's ceremony in French Lick comes after local officials and Blue Sky Casino executives signed off on an agreement that details how Orange County communities will benefit from the casino project.

Under that agreement, Blue Sky, a partnership between Indianapolis-based real estate developer Lauth Group and a foundation formed by Bloomington-based Cook Group, will share some of its gambling earnings with locals on a sliding scale from 1 percent to 5 percent.

The more the casino makes, the more local communities get. For example, if the casino makes $100 million a year, local officials get $4 million to share. The beneficiaries include Orange County and the towns of French Lick and West Baden Springs.

Blue Sky also will work with local officials to improve the local airport, build a town promenade and market the casino to people within 250 miles.

Schools will benefit, too, with local school districts splitting $250,000 a year for capital construction projects or loan payments. They will also get money to help students with textbook rental fees.

Part of the agreement also calls for Blue Sky to give preference for jobs and contracts to Orange County residents, who experience some of the highest unemployment in the state.

In exchange, the town of French Lick will grant Blue Sky a 10-year property tax abatement on improvements to the French Lick and West Baden hotels.

"We felt like we've been running a marathon," said Adina Cloud, who works at the French Lick Springs Resort & Spa and serves as chairwoman of the Historic Hotel Preservation Commission. "Now the community is finally seeing that the casino is really going to happen."

The centerpiece of the new project will be a 70,000-square-foot casino with 1,000 slot machines and at least 25 tables for games such as poker. Majestic Star Casino, which owns a riverboat in Gary, will run the casino.

Officials hope to have slot machines spinning in French Lick by late next year.

On Wednesday, the day after the groundbreaking, Blue Sky will hold a workshop for local businesses to help them navigate the contract bidding process.

This month, construction workers will replace the roof on the French Lick hotel. That project is already creating jobs.

Bill Long, who works for Pritchett Brothers Construction in Bedford, spent a day last week installing a new sidewalk and entrance to the French Lick hotel, which is already undergoing renovations.


Article By: The Associated Press via WHAS11