No, the city of Indianapolis owns the lake. They acquired it and Morse reservoir when they purchased the Indianapolis Water Company. The water co. built both lakes to be storage facities for our drinking water. In the 70's the water co. wanted to expand Geist (Highland Reservoir) and had purchased most of the surrounding land. Sen Birch Bayh put the kibosh on it for reasons unknown (many many rumors, all were shady). After Highland Reservoir was dead the IWC created the Shorewood Corporation to developed the land around Geist. shorewood has since morphed into The Marina Limited Developement which runs the the marinas and developes any vacant land at both Geist and Morse.