It's not too late to request a portion of the area's $42 million in Regional Cities Initiative money.
The Northeast Indiana Regional Development Authority on Tuesday announced that $250,000 remains in its coffers, money from interest, tax credits and savings on projects already funded. The deadline is March for the full $42 million to be distributed, according to a news release.
Mike Galbraith, consultant to the Regional Development Authority, said the same rules will apply for the remaining money that applied to the first projects approved.
“If there's a definite timeline and the project is considered transformational for our region, the RDA wants to learn more about the project,” he said in a statement. “We must invest the remaining funds, help launch impactful regional projects and move northeast Indiana forward.”
Gene Donaghy, the Regional Development Authority's board president, said more than one applicant can be approved.
“We are now ready to invest the final increment of Regional Cities funding to the most appropriate project or projects,” he said in a statement. “We must continue to infuse projects with 'last money in' to send the project over the finish line.”
To apply for Northeast Indiana RDA funding, project owners are asked to use the Regional Development Project Claim Form and the Regional Development Plan Project Cover Sheet and submit the information to firstname.lastname@example.org. To learn more and access project forms, go to www.neindiana.com/rda.
The Northeast Indiana Regional Development Authority is dedicated to distributing the $42 million in state funds to quality-of-place projects that will be “a magnet for talent attraction.” The goal is to increase population growth by attracting new talent and retaining existing talent.
Counties represented by the regional authority are: Adams, Allen, DeKalb, Huntington, Kosciusko, LaGrange, Noble, Steuben, Wabash, Wells and Whitley.
After the Regional Development Authority hands out the last of its funding, the board will seek additional public and private funding resources, Galbraith said.