PRINCETON — Local housing developments, a boost for the Toyota-Indiana YMCA and a proposed robotics program at Vincennes University-Fort Branch are among projects part of a $50 million-plus proposal by the Evansville region for the state’s $500 million Regional Economic Acceleration and Development Initiative program.
Regional Economic Partnership in partnership with Southwest Indiana Regional Development Authority submitted the development plan Sept. 23 and will present to the state’s review committee the week of Nov. 29. The partnership represents Gibson, Posey, Warrick and Vanderburgh counties.
Award announcements are anticipated December. Some $500 million is available in the READI program, but more than $1 billion in projects have been proposed across Indiana.
The region’s proposal would leverage more than $50 million in READI funding and will spur additional public and private investment in the community.
The local plan highlights near-term opportunities that can be enabled by READI funding as a first phase, and long-term projects for a second phase. The proposal was developed through collaboration with community, business, and educational leaders.
The $50 million proposal, if awarded to the region, could provide up to 20% funding for projects that gain final approval.
Projects include spurring development at interchanges of Interstate 69 through Vanderburgh, Warrick and Gibson counties.
Projects proposed in the presentation specific to Gibson County include:
• The $47.8 million transformation of the VU-Fort Branch campus to a robotic technology center, leveraging $7.5 million in state/public funds with funding from industry partners. Toyota and VU are lead partners in the plans to renovate and re-equip the Gibson County center.
• A $9.6 million expansion of the Toyota Indiana child care center to provide for access for employees
• Proposal for $3.5 million in READI funds to be used with $13.2 million in Patoka-Union Township tax increment finance district revenue and about $1.5 million in private donations for the Toyota-Indiana YMCA project in Princeton.
• A $600,000 paint shop and distribution warehouse for Media Creation Center near Haubstadt
• $18 million project to built market rate high end apartments northwest of the 2nd Avenue roundabout in princeton.
• Proposed housing for out-of-state Vuteq new hires (cost not determined).
• $1.6 million project to creates 14 high-end loft apartments with ground level retail space around the Princeton square (above Tulip Tree Family Clinic, the former Farmer’s Bank building and One Tired Mom store).
• $31.8 million development of homes and high-end market rate condominiums with green space, walking trails, cabanas and grilling on 40 acres west of White Church road.
• $1.75 million development of 40-lot Southern Hills subdivision near Haubstadt.
• Clear Meadow Estates housing proposal near Princeton Community High School.