City of Gary Redevelopment Commission

The City of Gary Redevelopment Commission meeting on November 11, 2026, focused on a proposed economic development agreement with U.S. Steel for the Gary Works plant. U.S. Steel described a Stage 1 investment of up to $3 billion, of which about $1.2 billion is taxable; Stage 2 expansion was discussed as a possibility, not a commitment. The agreement provides for forgiveness of approximately $94 million in outstanding 2019 TIF bonds, establishes a new 25-year project allocation area, and includes a $14.7 million city contribution paid in three annual installments ($5.85 million for each of the first two years and $3 million in the third year). Commissioners also clarified that this is in addition to $4 million, for a stated total of $18.7 million. The agreement includes credit support for city TIF borrowing and approximately $195 million in bonds associated with U.S. Steel, which were described as payable only from U.S. Steel’s TIF revenues and not an obligation of city funds. The commission approved resolutions 7764 and 7765, establishing the 2026 economic development and project allocation areas and designating taxpayers within the area. The presentation said the new baseline could be about 30% higher than the current one, benefiting other taxing units through regular property tax receipts.

The commission also voted to reject or close out the two bids received for the Diamond Center, allowing staff to pursue negotiations with potential parties without issuing another bid solicitation. Separately, the meeting included information about the Grow in Gary land-sale platform for residential redevelopment: applicants must present a feasible, financed project, residential projects have an 18-month delivery period, and requests are limited to five parcels. The program was described as using an appraisal method authorized under Indiana law. No specific purchase award or vendor selection was made for that land program.