The Wabash River Regional Development Authority on Tuesday heard updates from representatives of higher education on how they have made use of their READI Grant 1.0 funding.
READI is a state-led effort that combines federal COVID-relief money with local government and private investment matches. The goal is that each project works to advance the region’s quality of life, talent attraction and talent retention efforts.
The RDA also voted on a pair of measures for future philanthropic spending.
Saint Mary-of-the-Woods College’s new president, Brennan Randolph, said that upgrades to the outdoor equine arena, creation of an indoor arena and renovations to the horse barn will enable the school in the future to add a veterinarian school to the educational disciplines the school offers.
Randolph added that the school would speak with Special Olympics Indiana later Tuesday about adding equine events to the schedule, with competitions taking place on campus.
Adding a sprint football team to the school’s sports lineups in 2022, Randolph said, “has changed our recruiting abilities” — students from Hawaii now attend the college.
To date, Saint Mary-of-the-Woods has spent $615,000 of the $1.45 million it was awarded in READI money.
Brian Dougherty, senior director for Rose-Hulman Ventures, said the READI money enabled the university to expand its plans for a facility to be built at Indiana 46 and Indiana 42, which will be anchored by Innovation Grove. Funding also enabled the school to partner with Union Health’s Indiana Joint Repair Institute, which will open a surgery center at Innovation Grove. Groundbreaking for the project will be Oct. 24, with site preparations lasting through the fall and construction beginning on March 25, 2025, with an eye on its grand opening in the summer of 2026.
Dougherty said Rose-Hulman Ventures has to date only spent about $16,000 of the money it was granted, but it will begin spending in earnest when site prep begins.
The RDA board voted to approve a Memorandum of Agreement with Thrive West Central for its ongoing Homes for the Future campaign, as well as approving a READI 2.0 administration fee of 2.5% for the Indiana Economic Development Corporation.
RJL Solutions representatives reported that the RDA has dispersed 25% of the READI 1.0 funds it has received, with organizations like the Swope Art Museum, Ivy Tech, Homes for the Future and the upcoming downtown hotel project being invited to generate applications for dispersal for READI 2.0 money.
State Sen. Greg Goode, R-Terre Haute, the RDA’s former board chairman, and former board member Bob Baesler were honored for their service to the authority.
Baesler said the RDA’s good works “would have not happened without Greg Goode.”
Goode said current board Chairman Jon Ford “is going to continue to improve [the RDA] and make it better and better.”
The meeting was in The Hub in the Hulman Building on Wabash Avenue. The RDA’s next meeting will be Oct. 4 in Parke County. Members of the Wabash River RDA include Clay, Parke, Sullivan, Vermillion and Vigo counties.
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