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A BREAKTRHOUGH OPPORTUNITy FOR NW INDIANA

A BREAKTRHOUGH OPPORTUNITy FOR NW INDIANA. Creating the Northwest Indiana Regional Development Authority (RDA) . Impact: The RDA will be a catalyst to transform the economy and the quality of life in northwest Indiana .

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A BREAKTRHOUGH OPPORTUNITy FOR NW INDIANA

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  1. A BREAKTRHOUGH OPPORTUNITy FOR NW INDIANA Creating the Northwest Indiana Regional Development Authority (RDA) Impact: The RDA will be a catalyst to transform the economy and the quality of life in northwest Indiana. It will help to demonstrate the importance of regional collaboration and cooperation. Leigh Morris, Chairman, Northwest Indiana Regional Development Authority

  2. Creation of the RDA • Established: September 2005 • Initial funding: January 2006 • Supported by bipartisan majorities in both houses of the Indiana General Assembly • Unique to Northwest Indiana

  3. RDA’s Five Key Areas of Emphasis: • The Gary-Chicago International Airport • Extension of the South Shore Rail Commuter Line • Lake Michigan Shoreline Development • Regional Bus Authority • Other initiatives that will enhance economic development in Northwest Indiana

  4. RDA’s Key Roles: • Supporting major projects with regional impact that require regional funding sources rather than single community or single county approaches • Accessing federal funds usually requires matching funds that are beyond the reach of local government • Providing a vehicle for pooling both resources and leadership talent to move major initiatives forward

  5. RDA’s Funding Sources • East Chicago, Gary, and Hammond; Porter and Lake counties each invest $3.5 million annually • State of Indiana invests up to $10 million annually from Indiana Toll Road lease • Additional $20 million allocated from Major Moves and earmarked for the Gary-Chicago Airport • Funding formula in place through 2015, subject to reauthorization by the State Budget Commission

  6. How is the RDA Governed? Seven-member board of directors: • Dr. Howard Cohen, Chancellor, Purdue Calumet (City of Hammond appointment) • Carmen Fernandez, Corporation Counsel, City of East Chicago (City of East Chicago appointment) • Bill Joiner, Retired Banker (City of Gary appointment) • Lou Martinez, President of Lake Area United Way (Lake County appointment) • Gus Olympidis, President, Family Express (Porter County appointment) • Harley Snyder, President, HSC, Inc. (Governor’s appointment) • Leigh Morris, Executive Director, Indiana Toll Road (Governor’s appointment)

  7. Current Impact of the RDA • More than $72 Million already invested in Northwest Indiana. • During that two year period, the local investment in the RDA has totaled $35 Million. • The region has more than doubled its investment, and major progress is being made on all four of the priorities the legislature established for the RDA.

  8. Initial RDA Investments *Includes $2.074M for Valparaiso/Chicago Svce. **$6M to Little Calumet River Basin Project

  9. Bottom Line: The RDA is very positive for Northwest Indiana • Transformational projects can be completed because of the availability of new sources of funding and leveraging of federal funds • Regional needs that cross county or community borders can be addressed • Major private investment (and new job creation) can result from a positive regional environment

  10. <$40 Million in Local Funds = Over $300 Million in Project Funding

  11. An Important Tool for Breakthrough Progress in NW Indiana!

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