The city of Evansville is extending Tropicana Casino's lease by 40 years.
The Redevelopment Commission approved the extension to 2055 as part of the deal with Tropicana to move its gaming operation onto land.
Metro Development Director Kelly Coures tells WNIN the extension is required to receive up-front rent payments from Tropicana.
The city is expected to receive $25 million from Tropicana in two $12.5 million payments.
WNIN asked Coures how he’d like to see the money spent. He says his department would like to use some of the money for a land bank to reduce blight and downtown development he calls "quick wins."
Coures also says he believes the $1 million that Tropicana is offering to move LST 325 to the current riverboat site will be enough to cover the proposed move.