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$11.5 Million in READI Funds Allocated


The money will fund 6 projects, including housing for med school, downtown gathering place

Another chunk of READI funding has been allocated for the Evansville area. WNIN’s John Gibson has details:

The Southwest Indiana Regional Development Authority has obligated $11.5 million of the $50 million total in Regional Economic and Acceleration Development Initiative – or READI -- grant funds.

The money is earmarked for six projects, including $5 million for student housing at the Stone medical school in Downtown Evansville.

$2.5 million will go to Promenade Flats, a commercial and residential project on Evansville’s East Side.

Another $2 million has been awarded to the Mary O’Daniel Stone and Bill Stone Center for Child and Adolescent Psychiatry at the IU Medical School in Evansville.

$1 million has been allocated for the planned Centerpoint Energy Square in Downtown Evansville. It’s described as a gathering place that may include an ice rink pending fundraising.

And the remaining $1 million will go to land acquisition on the Mt. Vernon Riverfront for future housing.

Officials say more than 70% of the funds for the Evansville Region have now been allocated.

Tara Barney of the Evansville Regional Economic Partnership, or E-REP, says the money is being invested in health and life science clusters, much-needed housing, and enhancing the overall quality of life.