How to Submit: Email application information to team@rjlsolutions.com to be considered for submission by the Wabash River RDA.

Developers Should Be Prepared to Provide

• A completed, signed and dated IEDC Regional Redevelopment Tax Credit Pre-Submission Checklist.
  
  • ‍Download the official IEDC RTC application checklist.‍

• Project information, including:
  
  • Project name and type
  • Project address and county
  • Applicant and property-owner information
  • Primary contact information
  • For-profit or nonprofit status
  • EIN and NAICS code
• Estimated project start and completion dates
• A project narrative describing:
  
  • The primary components of the project
  • Project timeline
  • Development partners
  • Intended outcomes
  • Community and regional impact
• A site-development plan showing the proposed improvements, together with available architectural plans, engineering plans, drawings, site plans or renderings.
• A detailed, itemized project budget identifying:
  
  • Hard construction costs
  • Eligible soft costs
  • Ineligible costs
  • Total project cost
  • Costs per unit or square foot, when applicable
• Project measurements, including total building area and any residential, retail, surface-parking or structured-parking areas.
• For residential projects, a unit schedule showing unit types, unit sizes, number of units, anticipated rents and rent per square foot.
• A summary of the project’s current status, including site control, zoning, design work, approvals and other due-diligence activities completed to date.
• The amount of Regional RTC assistance being requested.
• A cash-flow operating pro forma covering the anticipated ownership or hold period and showing:
  
  • Annual gross income
  • Operating and maintenance expenses
  • Net operating income
  • Annual debt service
  • Capitalization rate
• A project funding plan identifying each source, funding entity, funding type, commitment status and dollar amount.
• Supporting documentation for every funding source, such as:
  
  • Bank commitment letters
  • Owner or investor equity commitments
  • Grant award letters or agreements
  • Local funding commitments
• The anticipated date by which all non-RTC project financing will be in place.
• Information about any new full-time jobs, including the number of jobs and anticipated average wage.
• Any additional supporting documents relevant to the project.

Additional Information When Applicable

• Housing projects must provide the number of new units by housing type, tenure and affordability classification.
• Brownfield projects must identify whether an Indiana Finance Authority Comfort Letter exists and whether a Phase I or Phase II environmental assessment has been completed.
• Mixed-use projects must provide the square footage and use of each project component.
• Projects creating jobs must provide the anticipated number of full-time positions and average wages.

Important Application Notes

• Developers should contact their regional development organization early to confirm its internal deadline, review process and any additional regional requirements.
• IEDC may request additional information during its review.
• Expenses incurred before IEDC approval generally do not qualify for the credit.
• The RTC is not upfront construction funding. Applicants should demonstrate that the project can be financed until eligible costs are incurred, certified and the credit is claimed or sold.
• Letters of support, evidence of local-plan alignment and documentation of community impact are encouraged because IEDC considers regional support and project impact during evaluation.

Download the official IEDC RTC application checklist.

How to Submit: Email application information to team@rjlsolutions.com to be considered for submission by the Wabash River RDA.