Regional City Fund

Indiana Economic Development Corporation / http://indianaregionalcities.com/

Legislators last year budgeted $84 million for Regional Cities grants, with the money to come from the state’s tax amnesty program.

The amnesty raised more money than predicted, and Pence announced three $42 million grants in December instead of two.

But House Speaker Brian Bosma (R-Indianapolis) warned last week the votes aren't there to get the extra money out of committee.

Several committee members say they resent being put on the spot to back up the administration's promises without first being consulted.

Indiana Economic Development Corporation / http://indianaregionalcities.com/

Full funding for all three winners of Indiana’s Regional Cities Initiative is in jeopardy after Speaker Brian Bosma (R-Indianapolis) said Thursday a bill to provide those dollars is stalled in the House. 

The legislature last year set aside $84 million from the state’s 2015 tax amnesty program to pay for the Regional Cities Initiative.  The money was meant to be split in half, with $42 million going to each winner. 

Indiana Economic Development Corporation

Legislative leaders say an aggressive push by the Indiana Economic Development Corporation likely won’t influence final negotiations over how much money to put into the governor’s Regional Cities Initiative. 

The governor’s proposed budget puts $42 million a year towards the IEDC project.  The House and Senate scaled that back to $10 million a year. 

As the session nears its end, the IEDC is strongly urging lawmakers to pump more money into the initiative. 

Noah Coffey / https://www.flickr.com/photos/noahwesley/

A bill that would create an initiative granting funding to collaborating groups in regions around the state is moving through the Indiana Senate.

The Regional City Fund would grant or loan regions money to improve the area based on a proposed growth plan.

Indiana Economic Development Corporation President Eric Doden says it’s similar to the state’s existing Stellar Communities grants, but the new initiative is more collaborative.