Rivergate Development Corporation

The New Orleans City Council created a public benefit corporation to act as landlord for the city-owned Rivergate. Under the articles of incorporation the mayor would be the Rivergate Development Corporation's (RDC) sole stockholder and would appoint all of its board members. The City Council would confirm the mayor's appointees.

The City would lease to the RDC the casino and adjacent casino property, such as the parking garages. As agent for the city, the RDC would, in turn, sublease the property to Hemmeter; monitor compliance with the terms of the thirty-year lease which had three ten-year options -- it could stretch to sixty years; and manage the properties (Eggler 1994).