Sec. 11. The IFA, the NWIRDA, or the NICTD may:
(1) in the manner provided by IC 32-24; or
(2) as otherwise required for a railroad federal aid project funded in any part under 49 U.S.C. 103, et seq.;
acquire by appropriation any land, rights-of-way, property, rights, easements, or other legal or equitable interests necessary or convenient for the construction or the efficient operation of any rail project. However, compensation for the property taken shall first be made in money as provided by IC 32-24 or as otherwise required for a railroad federal aid project funded in any part under 49 U.S.C. 103, et seq.