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Council Discusses Casino Funds

HAMMOND, Indiana – As reported by the Northwest Indiana Times: "With a $15 million advance from the Horseshoe Casino hanging in the balance, the City Council will meet tonight with the committee charged with developing the magnet school the gaming loan was supposed to finance.

"The City Council must commit to the school or risk losing half of the $15 million. The $7.5 million would go a long way in propping up the city's ailing self-insurance fund.

"No magnet school, no loan, and, therefore, no help on the insurance front, according to Mayor Thomas McDermott Jr., who negotiated the deal with Horseshoe.

"…McDermott said tonight's meeting will include a detailed presentation of the plans for the school, which have entered their third phase.

"…However, the plans still have not settled on a specific location or an actual price tag, the mayor said…"

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