Michigan: Chiooewa Indians reach historic milestone

The Lac Vieux Desert Band of Lake Superior Indians (LVD) announced today that it has paid in full the $30 million loan originally taken out in 1995 to finance the construction of Lac Vieux Desert Northern Waters Casino Resort marking a historic milestone in the Tribe’s history. The debt was not scheduled to mature until November 2021, making the final payment nearly two years ahead of schedule. 

“Being debt free has always been the plan of Tribal leadership and the entire LVD community, so this is an important and historic day for all of us,” said James Williams, Jr., Tribal Chairman of the Lac Vieux Desert. “Paying off this major debt is not only a big step forward for our self-sufficiency, but it also gives us more flexibility in financial decision-making, with principal and interest savings that allow for long-term financial planning and improved services to Tribal members.” 

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