§ 36-7.5-8-4 — Deposits in the fund; federal funding

Indiana § 36-7.5-8-4

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 7.5: NORTHWEST INDIANA REGIONAL
• Ch. 8: Gary Metro Center Station Revitalization Fund

Text

(a) In each state fiscal year beginning after
June 30, 2025, the city of Gary shall transfer up to three million dollars
($3,000,000) to the development authority for deposit in the fund, in
order to obtain state matching grants and the issuance of bonds for the
Gary Metro Center station revitalization project. The city of Gary may
enter into an agreement with the licensed owner operating a riverboat
sited at a location approved under IC 4-33-6-4.5 for a term of
twenty-five (25) years, for contributions of up to three million dollars
($3,000,000), in order to obtain state matching grants.
(b) The city of Gary and the development authority shall apply for
all available federal grants to defer the cost of construction for the Gary
Metro Center station revitalization project.
(c) The northern Indiana commuter transportation district
established under IC 8-5-15 shall pursue federal funding for the
purposes of modernizing the Gary metro train platform.

Legislative History

As added by P.L.195-2023, SEC.8.