From applying for various grants to exploring housing projects, Fulton Economic Development Corp. Executive Director Michael Ladd had a lot to share at this week’s meeting of the Fulton County Council.
He began by noting that awards are to be announced April 11 for the state’s Regional Economic Acceleration and Development Initiative – better known as READI 2.0. He also expressed confidence that Fulton County would receive funding for its two submitted projects: A new industrial park off Indiana 25, south of U.S. 31; and an expanded child care and pre-school program with Rochester Community Schools.
“I don’t see anything going awry there,” Ladd said of Fulton County getting its share of funding.
The North Central Indiana Regional Planning Council, serving Cass, Clinton, Fulton, Howard, Miami and Tipton counties, submitted a $75 million strategic plan for the program in mid-February.
As regions submit their proposals for the second round of funding, first round projects are either completed or underway.
Here in Rochester, $1 million of first-round READI funding is being matched by the city and county for the extension of Apache Drive and Peace Tree Drive on the city’s southwest side.
“We’re still working on housing,” Ladd continued, adding he’s spoken with five different housing developers in the past week and has meetings scheduled with two others.
“There’s a lot of interest in housing right now,” he said. “I expect we could probably see some real construction maybe start someplace in the summer. We’re that close to getting these things finished up.”
Three pieces of property – one along Southway 31, one in Akron and another undisclosed – have been identified for potential housing developments.
Representatives of Fort Wayne-based Housing Resource Hub, recently contracted by FEDCO on a countywide housing study, will soon meet with Akron officials to discuss a potential project there.
On to other grants, Ladd noted FEDCO is seeking two offered by Duke Energy – one for $10,000 to assist with the industrial park and another for $5,000 to create a website combined with the county and city of Rochester.
Ladd also said a letter of intent seeking up to $13 million from the state’s Stellar Pathways Program will be submitted by the May 1 deadline. That funding, if awarded, could go toward projects proposed for READI that didn’t make the cut.
Grant funding through the state’s Lilly Endowment will be sought for the same purpose.
Lastly, Ladd briefly reported that FEDCO is exploring, through its BizGro program, how it may be able to assist Putt’s Bar & Grill in stabilizing a failing exterior wall on its east side.
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