State Treasurer Daniel Elliott has made $50 million immediately available to Indiana communities impacted by last month's severe wind and flooding damage. The new Recovery Advance Program for Infrastructure Damage (RAPID) aims to provide quick upfront cash for public infrastructure and facility repairs, helping localities address damage more rapidly than traditional federal or state aid allows.
Cities, towns, counties, townships, schools, libraries, and municipal utilities with damage to public infrastructure or facilities are eligible to apply for up to $1 million through the program. A formal disaster declaration is not required to apply. The initiative, chaired by Treasurer Elliott through the Indiana Bond Bank, focuses on assisting communities that cannot afford to wait for recovery funding to arrive.
Treasurer Elliott emphasized the urgency of the situation, stating that after witnessing the difficulties local leaders and residents faced on the ground, "I realized that as treasurer, I need to do something." He noted that disaster relief funding often takes considerable time to be delivered, while critical repairs to roads, utilities, and public buildings cannot be delayed.
RAPID funds can be used for a variety of recovery needs, including debris removal and cleanup, damage assessment, and necessary repairs or replacements. Specific examples provided include repairing damaged roads, replacing wastewater equipment submerged by floodwaters, and clearing trees and debris from public roads and sidewalks.
Connersville Mayor Chad Frank shared his community's experience, estimating that their wastewater facility alone sustained $5 million in damage. He also highlighted local efforts, stating his community had cleaned up approximately 15,000 cubic yards of debris to prevent residents from continuously seeing what they had lost.
Jonathan Whitham, executive director of the Indiana Department of Homeland Security, explained that the RAPID program effectively "covers a gap that has been a challenge for states," bridging the period between a disaster occurring and recovery funds becoming available. He pointed out that not every community possesses the upfront cash required to initiate the recovery process immediately.
Funds obtained through RAPID loans carry a low 2% interest rate. Communities can repay these advances using subsequent federal or state recovery funding, long-term financing options, local funds, or a combination of these sources. Applications for the program are due at least two weeks prior to the intended loan closing date, with the next deadline set for September 16 for a September 30 closing.
While President Donald Trump granted a major disaster declaration for 21 Indiana counties following the August 11 storms, which caused widespread flooding in central and eastern Indiana (pushing the White River to record-high levels in Indianapolis) and significant wind damage with over 350,000 power outages in northwest Indiana, that aid often takes time to materialize. The RAPID program is designed to be a permanent resource for local governments facing future disasters. This also allows state disaster funds, which are collected through a fireworks tax, to be specifically directed to individual Hoosiers in need. Treasurer Elliott confirmed that he can request additional funds from the Indiana Bond Bank board should they be required.
