A large portion of the 22-acre casino site along the Delaware River is on submerged land. According to published reports, the Commerce Department negotiated a 99-year lease at $282,270 a year with HSP for that portion of the site. In the court complaint, the lawmakers contend that the commonwealth owns submerged land on navigable waterways, and only the state legislature has the authority to lease it or sell it.
This move follows within weeks, a ruling by the same court, which granted HSP's request that the City and related entities move forward with the permits and documents necessary to allow construction to begin, as GlobeSt.com reported. Calls to Rep. William Keller, who led the effort; a representative of HSP Gaming, and Welsh & Recker, the law firm representing the lawmakers, were not returned by deadline.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
