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Gary council unanimously approves $5 million wagering-tax pledge toward Lake County convention center
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Summary
The Gary Common Council voted 8–0 to approve CPO 2026-07, authorizing city execution of financing documents for the Lake County Convention Center and pledging $5 million per year from wagering tax (net city commitment of $3.5 million annually after $1.5 million reimbursement from Hard Rock).
The Gary Common Council voted unanimously March 3 to approve CPO 2026-07, an ordinance authorizing the mayor and administration to execute financing documents for the Lake County Convention and Event Center.
A presenter identified as Brandon (S14) told the council the Redevelopment Authority would issue bonds for the project and that the city would pledge $5,000,000 per year from wagering tax revenues. "The 5,000,000 is coming from the wagering tax, but 1 and a half million per year be reimbursed by the Hard Rock," Brandon said, summarizing what he described as a net city commitment of $3.5 million annually. He estimated the project's total cost at about $140,000,000 and said the project would have a "large economic impact to the city, and as a catalytic driver along that corridor." (Brandon's full title was not provided in the transcript.)
City attorney counsel noted a scrivener's correction to the ordinance language; Attorney Molina (S13) said a phrase that read "member of the council" should read "president of the council." Molina characterized the change as a clerical correction and not a substantive amendment.
Council members raised no substantive amendments during discussion and voted by roll call. The clerk announced the vote was 8 to 0 and President Linda Barnes Caldwell declared CPO 2026-07 passed.
Why it matters: Council authorization allows the administration to finalize transaction documents that would enable bond financing for a major convention center project that backers say could spur development along the corridor. The city’s pledge commits recurring wagering-tax revenue to the financing structure, while contractual reimbursement from Hard Rock is expected to lower the city's net annual burden by $1.5 million.
What happens next: The ordinance authorizes the administration to negotiate and execute documents related to the financing; council action permits those steps but does not itself issue bonds. Further steps include final bond issuance by the RDA and any required follow-up approvals or contract execution by the mayor's office.
Speakers quoted or paraphrased in this article are drawn from the meeting transcript and are identified by the speaker labels assigned in the record.
