Sec. 4. (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.
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