A decision on how READI 2.0 funds will spent is getting closer.

READI is the Regional Economic Acceleration Development Initiative.

It’s an Indiana program dedicating $500 million in strategic investments into areas that will advance quality of life, place and quality of opportunity.

The state is divided up into regions made up of several counties. Each region works to create planning strategies as part of the application process.

Knox and Pike Counties are in the Indiana First Region and In April it was announced that Indiana First is getting $15 million of the $500 million awarded statewide.

Knox County Indiana Economic Development CEO Chris Pfaff serves as Chairman of the Indiana First Region and he gave an update to the Knox County Commissioners on Tuesday saying there are about a half dozen projects being considered for funding.

That list will likely be narrowed down even further.

He says this round of READI funding is a little more complicated because the Lilly Endowment has also awarded the state $250 million dollars in addition to READI’s $500 million.

The Lilly money is to be used for arts and culture and blight mitigation….

The Indiana First Region is scheduled to meet with the Indiana Economic Development Commission on June 14th in Petersburg to discuss more about the current READI 2.0 grant applications.