The fate of a planned $75 million Sport Resort in Porter County is unclear. Our partners at The Times of Northwest Indiana report two partners in the Catalyst Lifestyles LLC project have taken issues to court and little progress has been made at the 170-acre site since groundbreaking nearly a year-and-a-half ago. Plans include multi-purpose dome facilities for sports, entertainment and movie events, a cable wakeboarding lake, lodging space and outdoor athletic fields.
During an interview last year with Inside INdiana Business, Catalyst Lifestyles Managing Director Tony Czapla described the potential regional impact of the project. At the time, he said the project could ultimately spur a 10-site national Sport Resort network.
The Times reports Czapla, who holds a 50 percent stake in the company, filed an injunction in April aimed at forcing his two partners to follow a management agreement. One partner, Thomas Thomae, has since filed a petition in court calling for the company to be broken up and its assets placed in receivership. The publication says the petition claims insufficient funding for the project and disagreement between partners. The parties are scheduled to meet in Porter Circuit Court November 13.
A more imminent issue is the possibility of foreclosure on the property. The Porter County Redevelopment Commission treasurer tells The Times the land, which Catalyst Lifestyles agreed to purchase for $6 million, has not been paid off. Chris Stidham says a $600,000 payment due June 4 remains unpaid and an RDC meeting September 28 could begin foreclosure proceeding.
The Times also reports Goldschmidt Construction Services LLC is suing for breach of contract and seeking foreclosure on a $225,000 mechanic’s lien.
You can read more from The Times of Northwest Indiana by clicking here.