The 177-acre property once heralded for a sports dome, lake, hotel and campground has been acquired by the city of Portage, Ind., after it fell into foreclosure, the Post-Tribune reported. The Portage Redevelopment Commission bought the property for $6.6 million at an auction last week during a Porter County Sheriff’s sale. In 2015, the RDC agreed to sell the property, located north of Interstate 94 and west of Indiana 149 just west of the Ameriplex complex, to Catalyst Lifestyles Sport Resort LLC for $6 million. Catalyst was expected to pay the city $600,000 over 10 years. The developers made two payments on the property, but were plagued by financial and development issues, which halted the project. Infrastructure problems with NIPSCO right of way utility towers and plans for an overpass from U.S. 12 to Indiana 249 slowed progress. The partners in the development took each other to court and then filed for bankruptcy in 2018. Two bankruptcy attempts were dismissed by a judge. Meanwhile, the developers never paid taxes on the property, owing about $63,000. The RDC foreclosed on the loan and the state named a receiver last year. The receiver tried to market the property, but was slowed by the COVID-19 pandemic. The RDC was the lone bidder on the property at last week’s auction.
