PERU – Miami County is asking for $ 8.45 million in a regional grant project to help fund two major housing development projects in Peru and a new concert hall just north of the city.
The projects are listed in the READI grant submitted by the North Central Indiana Regional Planning Council, made up of representatives from Howard, Tipton, Miami, Cass, Clinton and Fulton counties.
Miami County has listed a total of five local projects that officials say would benefit the entire six-county area. These projects represent an investment of more than $ 189 million in the community.
Jim Tidd, executive director of the Miami County Economic Development Authority, said the opportunity to secure the funding is a unique opportunity for the county and city to complete some of the biggest development projects on offer in decades.
Here is a list of the projects and the funding needed to carry them out:
BROADWAY LANDING PROJECT
City is seeking $ 4 million to fund infrastructure upgrades near the intersection of North Broadway and US 24 to attract new developments such as a hotel, hospital campus, shopping district and 85 new houses.
Tidd said a feasibility study on building a hotel has shown it will help meet the need for more accommodation in the area, and the city has attracted a developer to carry out the project.
According to the grant, the city is also working with a supplier to develop a 9-acre hospital campus at the north end of the site to meet a need for service within the community.
The proposal also provides for a 30,000 square foot shopping district adjacent to the hotel to support local entrepreneurs.
Twenty-eight acres would be used to build approximately 85 new single-family homes. The goal is to provide homes at market rates with a variety of options for first-time homebuyers, as well as seasoned homeowners inside and outside the region, depending on the grant.
By offering street extensions, sewer systems, water and storm sewer infrastructure, the city hopes to capture a major quality of life development that will see an investment of $ 50 million in the community.
Tidd said they hope to find out in the coming months which specific developers are interested in building there.
“At the moment it’s more of a concept, but we think this area is going to develop here very soon,” he said.
RIVER EDGE DEVELOPMENT
With construction of the new Miami County YMCA nearing completion and an extension of the trail connecting downtown Peru to the Nickel Plate Trail, this development along the Wabash River is already well underway.
Now the city is asking for $ 2.75 million in grants to help pay for infrastructure upgrades for a 170-unit multi-family housing project. The improvements include major road improvements to Second Street, Forest Street and adjacent roads.
According to the grant, the redesigned riverside development will attract young talent to the region with improved quality-of-life amenities and housing that will allow entry-level working-class residents to live and work in Peru.
The development proposal also provides for the expansion of recreational facilities – including a playground and sports fields – on the site.
Tidd said the county has already provided $ 1.2 million in assistance to help build the new Y and trail extension and plans to give the developer an additional $ 2 million in TIF funding over a period of time. of the housing project.
He said the MCEDA is negotiating with a real estate developer and hopes the project will be finalized in the coming weeks.
SILO CONCERT CENTER
The county is asking for $ 450,000 to help fund a new $ 10.9 million concert hall on a previously abandoned farm near the intersection of US 31 and 24.
Russ Bellar is developing the site, which currently includes a large stage surrounding a silo-shaped building. The money would help pay to extend water and sewer lines a mile from Peru to allow instead to host up to 25,000 people for events.
According to the grant, the water and sewer upgrades would allow the site to host larger events by providing the toilets and access to water needed to operate legally.
“A venue of this size would act as a real national attraction by hosting big name headliners and music festivals,” the grant says. “This will be a defining quality amenity for the region that will attract young families to the region and improve the overall quality of life for residents of the region. “
GRISSOM MUSEUM IMPROVEMENTS
Two improvements are proposed to the Grissom Air Museum that would cost a total of $ 1 million, which would be funded by $ 500,000 local investment and $ 500,000 from the READI grant.
The first improvement is the construction of the Hustler Hutt to house the exhibit featuring the TB-58A Hustler.
The world’s first supersonic bomber, the Hustler was based at Bunker Hill-Grissom Air Force Base during the Cold War. The air museum did its best to preserve the bomber, but it has been installed outside since 1969.
The museum first announced the project in May 2019 and has been raising funds since. According to the grant, the exhibit will not only protect the aircraft, but also create an exhibit that will become a national raffle.
The second improvement is the development of a motorhome and camping area adjacent to the museum, called FAMCamp, which would provide accommodation for a variety of motorhome and camping options for families wishing to visit the museum.
The project will provide more than 20 RV pitches, 30 RV pitches, a tent camping block, camping parking, showers and toilets, entrance area and signage, playground , a spraying area and a waste emptying station.
GRISSOM TARMAC REPAIR
The MCEDA is requesting $ 750,000 in grants to help fund a $ 79.5 million grissom airbase runway tarmac repair project to support three nearby large businesses.
When the base became a reserve base in 1994, the MCEDA was able to capture nearly 1.2 million square feet of aircraft tarmac to help support the region’s economic redevelopment.
The tarmac now supports the operations of recent companies brought to the site, including Arizona Isotopes, Dean Baldwin Painting and a new air freight operator.
In order to continue to operate successfully and attract new business, there is a need to rebuild and repair the existing tarmac, according to the grant.
The upgrades will allow the old air base to attract new businesses, providing more well-paying employment opportunities that will attract talent to the region and serve as a catalyst for economic growth across the region, according to the grant.