Blight concerns have been growing in Wayne County, and the county has committed money in hopes of winning nearly $4 million more to address the problem.
To qualify for grant funds for blight reduction and redevelopment through a statewide program, local matches are required.
No announcements have been made about the final recipients of the second Regional Economic Acceleration and Development Initiative 2.0.
Indiana Economic Development Corp. is still evaluating east central Indiana projects for READI 2.0 funding consideration.
Some funds for READI are coming from Lilly Endowment Inc. for blight elimination and redevelopment.
To receive grants, Economic Development Corp. of Wayne County must secure a 1:1 public match.
At its Dec. 10 meeting, the local EDC board agreed to provide $1 million for downtown revitalization and $200,000 for Richmond’s historic Starr neighborhood.
Those contributions would come equally from county and consolidated economic development income tax funds.
County commissioners and council previously approved the funding commitments.
Downtown revitalization
Wayne County is requesting $3 million in READI 2.0 funds for downtown revitalization.
The county and Richmond each contributed $1 million toward Main Street renovations from American Rescue Plan Act funds through Hoosier Enduring Legacy Program.
Fifty-five building owners identified millions more in potential investments than funds were available. More than half didn’t receive funding.
An additional $4 million could triple the initial program’s impact.
It would also allow businesses in additional communities to use the program.
A few towns weren’t eligible for the first downtown blight program because they didn’t participate in the Hoosier Enduring Legacy Program.
Starr neighborhood
As millions are now being invested in downtown Richmond via Lilly Endowment’s College and Community Collaboration grant through Earlham College and other sources, EDC prioritizes improving nearby Starr neighborhood homes. It seeks $976,000 from READI 2.0 for that project.
Wayne County Blight Program’s earlier $780,000 commitment to demolish 44 homes, currently underway, would count toward the match.
In this new initiative, EDC would pay Intend Indiana $40,000 per year for five years and receive 2,000 hours of administrative support, consulting services and technical assistance to establish a landbank.
Landbanks help acquire, hold and maintain properties while suitable buyers/developers are found to rehab vacant, abandoned and deteriorated properties.
EDC staff say the county has no mechanism to acquire and secure key properties before they go to tax or commissioner sales and then might be sold to individuals or companies with no intentions of maintaining them.
Intend Indiana also has connections and partners to funding agencies that could connect the county to new funding resources.
With an established landbank, EDC could start acquiring key blighted single-family homes, and the city would hold them until a suitable developer/builder commits. They want to repair up to 20 homes in a concentrated area for owner-occupied housing rather than income properties.
EDC President Valerie Shaffer and Economic Development Manager Sarah Mitchell indicated a successful project could be replicated around the county. Local and state funding would be pursued.
A version of this article appeared in the December 18 2024 print edition of the Western Wayne News.