Northeast Indiana Regional Development Authority Recommends Funding for Three Projects

FORT WAYNE, Ind. – The Board of the Northeast Indiana Regional Development Authority (RDA) met today to consider requests for Regional Cities Initiative funding for projects submitted by the Buffalo Street Redevelopment Project in Kosciusko County, Posterity Scholar House in Allen County and the Michiana Event Center in LaGrange County.

The Board voted to support three projects including:

1. Buffalo Street Redevelopment Project in Kosciusko County, which requested $3.5 million, representing 20 percent of the $17.6 million of the project’s total cost;
2. Posterity Scholar House in Allen County, which requested a $2,484,180 grant, representing 20 percent of the $12.4 million of the project’s total cost; and
3. Michiana Event Center in LaGrange County, which requested a $3,843,371 grant, representing 20 percent of the $19,216,855 million of the project’s total cost.

“The three projects recommended for funding truly illustrate the diversity and regionalism of our Road to One Million plan. These projects are improving quality of life in three different counties in our region, and each project is critical as we grow Northeast Indiana’s economy, brand and talent pool,” said RDA board member Jeff Turner, senior vice president of Metal Technologies.

The Board’s recommendation now goes to the Indiana Economic Development Corporation (IEDC) for review and final approval to receive funding.

The board also heard presentations from two other projects including:

1. The Landing in Allen County, which requested a $6,904,023 grant, representing 20 percent of the $34,520,117 million of the project’s total cost; and
2. The Clyde Theatre Renovation Project in Allen County, which requested a $1,000,000 grant, representing 20 percent of the $5,030,000 million of the project’s total cost.

In addition to the approval of funding, the RDA also reported on the progress of the following Road to One Million projects, which are either approved or under review by the RDA or the IEDC:

• Great Lakes Capital for the Skyline Tower;
• Trine University;
• University of Saint Francis;
• Embassy Theatre;
• The DeKalb County YMCA;
• Little River Trail;
• Manchester Early Learning Center;
• Buffalo Street Redevelopment Project;
• Fort Wayne Regional Trails;
• South Adams Trails;
• The Enterprise Center;
• The United Brethren (UB) Block;
• Posterity Scholar House; and
• Michiana Event Center.

The RDA also elected the slate of officers for 2017:

• Chairman Bob Marshall of Campbell & Fetter Bank
• Vice Chairman Andrew Briggs of Bank of Geneva
• Secretary and Treasurer Brad Bishop of OrthoWorx

Jeff Turner, of Metal Technologies, and Gene Donaghy, retired from Northeastern REMC, will continue their service as board members.

The board voted to move RDA meetings to 2-4 p.m. on the second Tuesday of every month. The meetings will continue to be at a new regional location each month.

The RDA is responsible for disbursement of the $42 million in funding granted to the region through the Regional Cities Initiative established last year. The Northeast Indiana Regional Partnership, which helped lead the effort to secure the Regional Cities Initiative funding, also provides staffing support to the RDA.

As of January 2017, the Northeast Indiana RDA has recommended $25.9 million in funding to the IEDC, leveraging $105.9 million in private investment in the region.

The purpose of the Regional Cities Initiative funding is to attract and retain talent by providing financial support for game-changing quality of place projects that will increase economic growth, lead to population growth, and enhance the region’s national brand identity. Northeast Indiana won the Regional Cities grant in 2015 with its Road to One Million Plan that outlines more than 70 projects and $1.5 billion in investment over the next 10 years.

To learn more about the Northeast Indiana RDA, visit the new website at www.neindiana.com/rda.

 

About the Northeast Indiana Regional Development Authority (RDA)

The Northeast Indiana Regional Development Authority (RDA), currently the largest RDA in the state, consists of Adams, Allen, DeKalb, Huntington, Kosciusko, LaGrange, Noble, Steuben, Wabash, Wells and Whitley counties. The RDA is overseen by a five-member board, each appointed by consent of the executives of the member counties and municipalities, and receives staffing support from the Northeast Indiana Regional Partnership. Only the RDA may apply to the new state-funded Indiana Regional City Fund (administered by the Indiana Economic Development Corporation) for matching grants and loans; it may also accept loans, grants and other contributions from federal, state, and private sources. For more information, visit www.neindiana.com/rda.

About the Northeast Indiana Regional Partnership

The Northeast Indiana Regional Partnership was formed in 2006 to build a globally competitive economy in Northeast Indiana. It is a public-private partnership with the mission to build, market and sell Northeast Indiana to increase business investment. In 2010, the Partnership launched Vision 2020 to bring the region together around five key areas for economic growth: 21st Century Talent, Competitive Business Climate, Entrepreneurship, Infrastructure and Quality of Life. The Partnership supports 11 member counties: Adams, Allen, DeKalb, Huntington, Kosciusko, LaGrange, Noble, Steuben, Wabash, Wells and Whitley counties. For more information, visit www.neindiana.com. 

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MEDIA CONTACT:

Michael Galbraith
Director of the Road to One Million
Northeast Indiana Regional Partnership
260.469.3476
michael@NEIndiana.com