Lilly Endowment Inc. Redevelopment & Arts Initiative

Welcome

South Bend - Elkhart Region

Through the Lilly Endowment Inc.’s $250 million gift, the Indiana Economic Development Corporation (IEDC) is proud to launch an additional component of READI called the Redevelopment & Arts Initiative to advance and support two transformative initiatives focused on: (1) systemic community challenges associated with deteriorating, vacant, abandoned and/or blighted properties statewide; and (2) elevating the vitality of Indiana’s arts and cultural community through regional investments that benefit every resident’s quality of life, retain citizens and attract future generations of Hoosiers.

The IEDC will allocate $185 million to the strategic Blight Reduction & Redevelopment Initiative that will focus on property rehabilitation projects, including historic structures, remediation, rehabilitation or demolition with new construction and single-family home rehabilitation to assist a targeted community.

The IEDC will allocate approximately $65 million of the Redevelopment & Arts Initiative funding to support a first-of-its-kind, statewide Arts & Culture Initiative to advance regional creative transformation by investing in public art and cultural amenities.

Important: The Redevelopment & Arts Initiative funds will not be allocated to each region in lump sums. READI 2.0 regions will present priority projects that align with all relevant criteria, and awards will be issued on a project-by-project basis.

LEI GRANT PROCESS

Through the statewide READI 2.0 regional application and regional framework, each region will identify a maximum of four potential opportunities in each category and submit them to the IEDC for review. Projects must align with the goals outlined in this initiative and with the KPIs of READI 2.0.

Local/regional projects interested in being considered for this initiative funding should use the Redevelopment & Arts Initiative guidance to prepare an application for the region to consider by June 15th.

The RDA, on behalf of the region, retains full discretion to determine which projects it will select for IEDC review.

Any project submitted for the Redevelopment & Arts Initiative funding MUST also meet READI match criteria. See READI 2.0 FAQs for a thorough explanation on match criteria.

Redevelopment & Arts Initiative funding does not count as public match for any additional funding a project might receive from the region’s READI 2.0 allocation.

Here is a link to the downloadable application.

Please send your application to the Regional Partnership by June 15th to be considered.

LEI TOP 5 FAQS

  • How do I apply and when is the application due?
    The application questions are included in the Redevelopment & Arts Initiative guidance. Projects are encouraged to prepare answers to questions in a Microsoft Word document. At this time, we recommend providing your application response as a pdf and emailing it, along with other relevant information noted in the guidance, to Regional Partnership by June 15.
  • If I don’t receive my full request for funding from this initiative, can I still apply for additional READI funding from the RDA?
    Only capital expenditure projects are eligible to apply for READI 2.0 funding.
  • Is this funding also reimbursement-based?
    Yes, it is consistent with the READI funding model.
  • Is there a timeline for spending all the funds?
    If the IEDC commits Redevelopment & Arts Initiative funding to a project, the project must begin construction or substantially proceed within two years. If it is apparent that the project will not meet that deadline, the IEDC may reallocate the funding to other projects under this program that are supported by qualifying regional organizations participating in READI.
  • When will I know if I received the funding?
    Once the region has submitted a project for IEDC review within this funding initiative, IEDC will communicate with project applicants and the region about funding status. This should occur within 60-90 days of submission to the IEDC.

UPDATES

05.10.24 - Redevelopment and Arts Initiative Guidance Released

In April, IEDC released new guidance about the Lilly Endowment Inc.’s $250 million gift. Now called the Redevelopment & Arts Initiative, it will advance and support two transformative initiatives focused on: (1) systemic community challenges associated with deteriorating, vacant, abandoned and/or blighted properties statewide; and (2) elevating the vitality of Indiana’s arts and cultural community through regional investments that benefit every resident’s quality of life, retain citizens and attract future generations of Hoosiers.

01.09.24 - Gov. Holcomb Announces $250M Lilly Endowment Grant

Governor Eric J. Holcomb announced at the State of the State address that Lilly Endowment Inc. has awarded a $250 million grant to help bolster quality of place efforts throughout the state. The grant to the Indiana Economic Development Corporation (IEDC), which is the single largest award given in Lilly Endowment’s 86-year history, will be administered in conjunction with the nationally recognized Regional Economic Acceleration and Development Initiative (READI).

QUESTIONS?