Franklin County was awarded $3.09 million in damages in its lawsuit against Lawrenceburg over the improper termination of the special revenue sharing-agreement between Lawrenceburg and Franklin County, reported attorney Grant Reeves Jan. 30.
The agreement provided for the annual sharing with Franklin County of $500,000 of certain tax revenues from the riverboat in Lawrenceburg. In fall 2013, Lawrenceburg unilaterally terminated this agreement.
Decatur County Superior Court Judge Matthew Bailey previously determined that this termination was a breach of contract and set the matter for a damages hearing Dec. 28, 2018.
The damages award consists of five missed payments totaling $2.5 million plus prejudgment interest in the amount of $592,334. The damages award will continue to collect interest until paid in full. Franklin County retains the right to seek enforcement if future payments are missed.
The county’s attorneys, Reeves and Paul Barada of Barada Law Offices LLC, Rushville, and Paul Jefferson of McNeely Stephenson, Indianapolis, believe this is one more step toward bringing these funds back to Franklin County. While they believe the county will ultimately prevail, they caution that Lawrenceburg has indicated it will appeal.