The state is offering “rapid relief” to hard-hit communities struggling in the aftermath of an Aug. 11 storm that saw 100 mph winds in Northwest Indiana and flooding in central Indiana. More than 300,000 NIPSCO customers lost power in the storm, some for two weeks.
Flanked by Gary Mayor Eddie Melton and other local officials, State Treasurer Daniel Elliott announced a new low-interest disaster loan program, supported by the Indiana Bond Bank, to provide $1 million immediately for repairs to damaged infrastructure including roads, public buildings and bridges.
“We need immediate resources to address some very critical problems as we figure out a path forward,” Melton said during a press conference Thursday announcing the new program called RAPID or Recovery Advance Program for Infrastructure Damage.
It couldn’t be immediately determined what specific damage Melton referred to in his brief statement. However, Michael Suggs, the city’s chief operating officer, said Gary suffered significant damage from fallen trees across the city.
More Top Picks Ratings
Some examples offered at the press conference included debris removal and cleanup, repairs and replacement. Damages could involve road repairs, replacing wastewater equipment, and removing trees and debris from roads and sidewalks.
Elliott said $50 million has been earmarked for the program and communities can receive money within two weeks of applying. The loans carry a 2% interest rate and payment is not due until the end of the two-year terms.
Downstate Connersville Mayor Chad Frank said the city’s wastewater plant suffered millions of dollars of damage in the storm and he welcomed the program for assistance.
A Thursday release from Elliott’s office said cities, towns, counties, townships, schools, libraries and municipal utilities with damage to public infrastructure or facilities from a natural disaster can apply for up to $1 million. A disaster declaration is not required to apply.
“As I’ve had the opportunity to go to some of these communities, see some of the difficulties that these local leaders are dealing with, these folks who are working hard on the ground, talking to them on the phone, going to their locations, seeing people living in tents, I realized that as treasurer, I need to do something,” said Elliott who chairs the seven-member bond bank.
Applications are due at least two weeks before the intended closing date. The next deadline is Sept. 16 for a Sept. 30 closing, with additional closings scheduled about every two weeks thereafter.
The application and program guide are available at inbondbank.com/bondbank/services/recovery-advance-program-for-infrastructure-damage-rapid-program.
Carole Carlson is a freelance reporter at the Post-Tribune.
More Top Picks Best Under Sink Water Filters For Homes