Wabash River RDA approves $50K for Vermillion County projects

Howard Greninger, The Tribune-Star, Terre Haute, Ind.
·2 min read

Oct. 7—The Wabash River Regional Development Authority voted Thursday to approve $50,000 in READI, or Regional Economic Acceleration and Development Initiative, funds for projects in Vermillion County.

"We have been in discussions with Vermillion County on how to engage them more in the RDA from a regional standpoint," said Rachel Leslie, chief executive officer of RJL Solutions, an advocacy and public relations firm that works for the Regional Development Authority.

"Their main project in our READI application is a splash pad [for the city of Clinton at $250,000 in Riverside Park], but we were always hoping to do more in Vermillion County," Leslie said.

Projects for the $50,000 matching funds would be selected through the Vermillion County Economic Development Council.

"Vermillion County has a relatively new economic development president, and we want to show elected officials in that county that we are committed to this [regional development]," said Greg Goode, president of the Wabash Valley RDA.

"Once we know the projects, we will bring those back to this group" for approval, Goode said.

The $50,000 comes from a business promotion and innovation grant that had been slated to fund for an audit through Vincennes University.

However, the university was able to demonstrate accounting through the Indiana State Board of Accounts, no longer requiring funding for an audit, Goode said.

"In the mean time, the fiscal responsibilities have been moved to Thrive West Central," Goode said of 23 projects funded under a $20 million READI grant.The RDA has targeted $530,000 for grant administration, with Thrive West Central to receive 3% for grant fiscal administration.

Requirements of the READI grant funds is based on a matching ratio, with government projects requiring a 2-to-1 funding match of the local government dollars to READI dollars; non-profit agencies with a 3-to-1 match of nonprofit-generated funds to READI funds; and private projects requiring a 4-to-1 match of private money to READI money.

In other business, a second virtual update will be held Oct. 25 with all project representatives to ensure each project is on track to obtain matching funds. All projects must be awarded READI funds by December 2024 and completed by December 2026.

Bob Baseler, a member of the RDA, questioned what would happen to READI funding if an organization is not able to complete its project.

Goode said every effort will be made to ensure each project moves forward, with the RDA seeking a timeline to track progress. Goode said he hopes to have each project in compliance a year early, to ensure time to redeploy funds to another project should a need arise.

Howard Greninger can be reached at 812-231-4204 or howard.greninger@tribstar.com. Follow on Twitter @TribStarHoward.