INDIANAPOLIS - Northeast Indiana - represented by 11 counties and anchored by Fort Wayne - won a $42 million jackpot Tuesday to transform the area into a regional city with a national draw.
The Indiana Economic Development Corp. Board of Trustees selected three regions - northeast, north central and southwest - to receive the $42 million each in Regional Cities Initiative funding.
"We're obviously very excited," said John Sampson, president of the Northeast Indiana Regional Partnership, which has worked hard to push the effort. "We've dreamed about this for a long time. We never anticipated we would win but we planned as if we would win."
But only $84 million is in hand for the program. The legislature would still have to approve transferring additional funds raised through successful tax amnesty collections - $70 million or more.
That leaves the regions in limbo while waiting to make sure the full funding is available. It is unclear when money will start flowing to the projects and what happens if lawmakers balk at providing new money to the initiative, which already was a tough sell.
Sen. Brandt Hershman, R-Buck Creek, has agreed to carry the bill.
Sampson said there is no need to wait until after the session because the majority of the money is in the bank and appropriated by the legislature, and northeast Indiana has projects ready to go.
"There was never going to be a check for $42 million upfront," he said "We need a couple million at a time."
Northeast Indiana formed the state's largest regional development authority with 11 counties. Its proposal is highlighted by a regional trails network and a riverfront development in Fort Wayne.