Not sure about the swimming part, I've never seen people swimming back there, but they used to have a ski course and jump back in the day, and I wouldn't see why you can't swim there.
I haven't been back there in years because of the bridge. So you have to make sure your boat will be able to get out of the bay. Last time I went back we had a 17 ft 4-Winns and at high water there were times that I was a couple inches from the wind shield.
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