PUBLIC STATEMENT REGARDING READI 2.0 AWARD
The Wabash River RDA READI 2.0 applications are now closed. Awards will be announced in summer 2024, pending the timeline of the Indiana Economic Development Corporation (IEDC) in announcing regional awards and working with each region to select projects. For more information on our READI 2.0 process, see below.
The Application Guidelines outline READI 2.0 goals and focus areas, eligibility requirements, award allocation, reporting and compliance for applicants.
The Application Components cover the elements required to submit a detailed project proposal in order to be considered for funding.
Due dates may be different for different projects. Each project stakeholder will commit to a timeline in their contract with the IEDC. Similar to Requirements Type Contracts (RTC), if project stakeholders fail to meet the timeline, they could lose funding dollars.
READI funding can be used for some pre-development work, such as engineering and design, that is part of the capital expense. Generally, though, READI funds cannot be used for planning.
Private and Non-Profit entities will both be held to a 3:1 match. The entity that serves as the applicant will be responsible for signing the grant agreement and supplying financial information to receive the funds and will be held accountable for expending those funds.
Improvements to existing roads would be an eligible project, based on the state guidelines.
Generally, funds spent prior to the state’s application due date of 2/16/2024 cannot count towards match.
Yes, this would be an eligible project, based on the state guidelines, as long as the READI funds would be used for capital infrastructure including construction, equipment, etc. READI 2.0 funds cannot be used for programming, nor can they be used to source “mini-grant” programs.
The regions must meet a 4:1 regional match across the portfolio of projects: 1:1 match from local public funding and 3:1 match from private and philanthropic sources. The regions are required to have at least 60% of match from private sources. For this reason, projects with a higher percentage of matching dollars will be more competitive.
A general guideline for determining your READI ask is to take your total project amount and divide by 5.
Yes, this would be an eligible project, based on the state guidelines.
To continue maximizing upon the state’s initiative, the Wabash River RDA has identified the following categories to further regional initiatives within West Central Indiana:
• Recreational Tourism
• Housing
• Early Childhood Education
• Educational Attainment & Workforce Training
Therefore, projects that align with the above categories will be prioritized. Additionally, due to the regional match requirement of the state, projects with a higher percentage of matching funds will be prioritized.
Yes, this would be an eligible project, based on the state guidelines, as long as the READI funds would be used for capital infrastructure including construction, equipment, etc. READI 2.0 funds cannot be used for programming, nor can they be used to source “mini-grant” programs.
$500 million across 15 regions (see attached map)
Maximum commitment to a region = $75 million
• Projects that directly impact the well-being and health of residents
• Tourism, arts, culture and community projects
• Family-support initiatives (Childcare and healthcare access)
• Trails and parks (Active recreation and public spaces)
• Projects that directly impact essential community infrastructure
• Housing availability and affordability (New and rehabilitated units)
• Growth infrastructure (Water, sewer, roads, and utilities)
• Mixed-used developments (Residential and commercial along with a mix of other uses)
• Blight Remediation and Redevelopment
• Projects that generate economic opportunities for current and future residents
• Infrastructure leading directly to jobs
• Talent supply and education (Talent development and attraction)
• Innovation and entrepreneurship
• Population growth
• Per-capita income growth
• Increase in employment opportunities
• Educational attainment
• Number and affordability of housing units developed
• Increase in childcare capacity
• Increase in innovation activities
• Increase in private investment
• 1:1 match from local public funding
• 3:1 match from private and philanthropic sources
• At least 60% of match should be from private sources
An award allocation to a region will not be for specific projects, rather a commitment to the implementation of their Regional Economic Acceleration and Development Strategy.
• After making an award to a region, the IEDC will participate in project identification, evaluation,selection decisions and project execution with the region.
September 2023 – February 2024: Regions develop funding proposals.
September 2023 – February 2024: IEDC visits each participating region to see READI 1.0 investments and discuss future vision and strategy.
February 23, 2024: Regional proposals due to the IEDC.
April 2024: Proposed IEDC board approval of investment commitments and allocations to regions. Exact date to be announced at a later date.
May 2024: IEDC begins coordination with regions in identifying regionally significant capital and infrastructure projects for investment.
The Wabash River RDA READI 2.0 applications are now closed. Awards will be announced in summer 2024, pending the timeline of the Indiana Economic Development Corporation (IEDC) in announcing regional awards and working with each region to select projects. For more information on our READI 2.0 process, see above.
