The Northwest Indiana Regional Development Authority is funding its new Development Catalyst Grant program with $250,000 in funds.
The program will help local governments attract new investment as transit-oriented development districts take shape near the South Shore Line's stations.
“Successful development starts with preparation,” said RDA President and CEO Sherri Ziller in a press release. “From the start, the RDA has sought to provide our partner communities with the tools and strategies they need to be ready for developers’ calls. The Development Catalyst Grant will provide funds to boost and round out these efforts, so that communities are positioned to compete when opportunity arrives.”
The South Shore Line will wrap up a $1.5 billion expansion when it opens the Monon Corridor rail line on March 31. The double-track project was completed in 2024.
The $650 million double-track project added almost 18 miles of new track along a 26-mile corridor, 14 new trains and reduced travel times to and from Chicago.
The grant program will support projects along these rail lines. The RDA said grants can be used for zoning code updates, housing studies, attracting investors, placemaking supplies and other barriers to development.
“Every community has some of these, but few if any have all that they need to attract quality development in an increasingly competitive regional landscape,” RDA economic development director AJ Bytnar said. “This grant program will help fill in the gaps and align local and regional priorities.”
Transit development districts were set up by the Indiana General Assembly to ensure a return on the money spent to expand passenger rail service.
The Northern Indiana Commuter Transportation District, which operates the South Shore Line, and the Northwest Indiana Regional Development Authority predicted that within 20 years $1.5 billion combined investment for expanding commuter rail service would attract at least $2.5 billion in private investment within those TDDs.
“The Development Catalyst Grants aren’t only for communities with train stations,” Bytnar said. “They are open to all. The strongest applications will connect local initiatives to RDA strategic priorities: transit-oriented fevelopment, brownfield redevelopment, lakefront access, tourism infrastructure and economic diversification.”
The RDA requests a 10% grant funding match. Funds are available for projects in Lake and Porter counties. Grants will be awarded in amounts of $10,000 to $75,000. Learn more about the grants here.
Learn more about TDDs in Northwest Indiana Business Magazine‘s February/March issue story, “Economic foresight,” written by Doug Ross.
