Terre Haute Casino Foundation pledges $10 million upfront and up to $4.3 million a year for a new high school

What happened

The Terre Haute Casino Foundation told the county's Oversight Board it will commit an initial $10 million in cash toward building one new high school east of the river, plus future casino-revenue funding estimated at $4.2 million to $4.3 million a year for as long as the project's borrowing (bond) is being paid off — currently expected to run about 20 years. Kelsey Hankowitz, a foundation board member, said the annual amount depends on the casino's ongoing revenue and that the whole commitment is contingent on Vigo County Council approving its own significant funding for the same project by December 31, 2026. This pledge came about three weeks before the oversight board voted 5-0 to recommend the same project, known as "Option 6.2," along with its own plan to put in $15 million up front and $6 million a year.

The outcome

No vote taken; the foundation's commitment was presented to the board ahead of its August 12 recommendation to the county commissioners.

Sources

• Foundation's commitment: $10 million upfront, 3:48
• $4.2-4.3 million a year for up to 20 years, contingent on a county vote by Dec. 31, 2026, 4:19
• Oversight board votes 5-0 for "Option 6.2" three weeks later, 27:38
• Oversight board's own funding motion: $15 million up front, $6 million a year, 52:49

Also known as: Terre Haute Casino Foundation · casino foundation school pledge · $10 million school donation · Option 6.2 funding · new high school east of the river · casino funding commitment