Construction was initially expected to start in 2024 on the iconic -- and vacant -- venue at Sixth Street and Muhammad Ali Boulevard
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The money will fund 'epic' investments in Louisville, state Rep. Tina Bojanowski said in backing the bill Thursday night.
Jarett is known for smashing opponents in the head with guitars and trash cans.
The money will go into the city's Brownfield Cleanup Revolving Fund, which is about to pay for cleanup on the Louisville Gardens downtown.
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River City Entertainment Group has asked for more time to ink a development agreement with Metro government on its plan to turn the Gardens into a media production space.
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Mayor Greg Fischer, whose administration oversaw several unsuccessful attempts to renovate the 117-year-old building, insisted that 'this is not a build-it-and-they-will-come project.'
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The Gardens has been the center of previous development proposals.
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Louisville Gardens has sat vacant since 2008 after several redevelopment efforts failed to materialize.