ARI Development Board has approved a motion to unobligate READI 1.0 funds from Shelbyville’s sports complex and reallocate them.
The City of Shelbyville and the Accelerate Rural Indiana (ARI) Regional Development Authority have announced a significant achievement following the recent ARI Development Board meeting.
ARI is currently on track to become the first region in Indiana to reach the 65% milestone in regional development by the third quarter of this year, two quarters ahead of projections.
To achieve the 65% milestone, a total of $1.33 million is needed. With $870,811 currently pending (4.5%) and $10,406,203 already disbursed (approximately 54%), we are confident that this target will be met through strategic reallocation of funds. All projects are expected to meet the August 1 deadline, a testament to the cooperation and teamwork within our region.
In a significant move, the ARI Development Board has approved a motion to unobligate READI 1.0 funds from Shelbyville’s sports complex and reallocate them to the Shelbyville Parks and Recreation Amphitheater and Shelby County Players Civic Theater projects, which were originally slated as READI 2.0 initiatives. This reallocation, pending approval from the Indiana Economic Development Corporation, will allow these important arts projects to proceed immediately and open up the 2.0 list for new and more ARI projects.
Shelbyville Mayor Scott Furgeson had noted that an agreement with a Boston-based company to operate the proposed sports complex could not be completed which had held up the creation of the complex at Blue River Memorial Park.
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