A rendering shows plans for the Jeffboat property, including an amphitheater, raised walkway, plaza, overlook area and observation tower.
News and Tribune file photo
SOUTHERN INDIANA — Our Southern Indiana Regional Development Authority is advancing 30 projects for the READI 2.0 grant.
The RDA announced its selection of projects at Friday’s meeting for the second round of the Indiana Regional Economic Acceleration and Development Initiative, or READI. The region is receiving $45 million from the state grant.
The projects in Clark, Floyd, Washington, Jefferson and Scott counties will be submitted to the Indiana Economic Development Corporation to be considered for project funding.
Dana Huber, chair of Our Southern Indiana RDA, said the projects selected are ones that “really help to lift that particular community up.”
Cory Cochran, executive director of River Hills Economic Development District, said no decisions have been made about funding for individual projects at this time, but the IEDC will conduct an economic impact study for each project.
River Hills was hired by the RDA to administer the grants. Cochran said the RDA received 74 applications for READI 2.0 for a total request of more than $270 million.
The RDA is also advancing projects for the Lilly Endowment. Inc. grants to the IEDC. These include four blight remediation projects and four arts/culture projects.
The blight/remediation projects to be considered for both grants include the Jeffboat redevelopment in Jeffersonville, the Padgett District redevelopment in New Albany, the Edwardsville School Community Center project in Floyd County and the Madison revitalization.
The arts/culture projects include the Falls of the Ohio Outdoor Education Pavilion in Clarksville, Georgetown Park improvements, the South Clarksville Riverfront Mixed Use District and the Community Performing Arts Center at Hanover College.
The eight projects to be submitted to the IEDC for potential Lilly funding are also READI projects.
“We originally thought that the Lilly would kind of be in addition to and would fund other projects outside of READI, but it became apparent to us this week that the IEDC really wants the region to invest in the same Lilly projects with the region’s READI dollars,” Cochran said.
“But we’re in a good shape because the Lilly projects that have been identified to move forward really do fit the mold for READI 2.0 as well.”
The IEDC will determine the amount of grant funding for the Lilly projects.
The selected READI projects met “key performance indicators” identified by the IEDC, according to Huber.
“These projects represented the ones that aligned very well with the goals of the IEDC and those communities,” she said.
Jeffersonville Mayor Mike Moore said he feels confident that the Jeffboat project will receive “a lot of help” from the two grants.
“I’m anxious to see that process move forward, and I’ve got my fingers crossed that we get some financial assistance to make that a reality.”
The redevelopment of the 100-acre Jeffboat site on Jeffersonville’s riverfront will have an “impact not only in Jeffersonville but the entire region,” he said. He emphasized the “quality of life” benefits of the project.
“It’s a perfect example of looking at something, investing in something to reap more money back, and I don’t think there’s any project under consideration in the entire state of Indiana that’s going to be more dramatic and impactful than the Jeffboat property.”
Georgetown Town Council President Chris Loop expressed excitement that the town’s park improvement project was advanced by the RDA for READI and Lilly funding. The town is planning Georgetown Park, including a new amphitheater and a new inclusive playground/splash pad.
“It’s a historic day for Georgetown residents,” he said. “While we don’t know the total dollars we will receive yet, we know we will receive funding, which will put this project on fast forward.”
“If we received no external funding, this plan would take us at least 10 years to come to fruition, so we may be able to complete this project within a year,” he said.
Although the region is receiving $45 million in READI funding, a portion of that sum will go toward administrative costs.
Cochran thanked those who submitted READI projects to the RDA.
“We had 74 [applications], and we can’t fund everything when we have $43 million to spend and there’s $270 million requested, so we’re just thankful for the public participation with the RDA and we’re happy to see so many good impactful projects,” he said.
Huber said she hopes RDAs across the state “continue to work with our legislators so that we can provide more opportunities like what we’ve seen with these past few rounds of funding.”
“It’s working, it’s making a difference, and we need to continue that process,” she said.
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