Franklin site to see region’s first READI 2.0 money

A senior center in Franklin will be the first project in the Central Indiana region to receive funds from the next round of READI 2.0 grants from the state.

According to the Indiana Economic Development Corporation, the $5.75 million Active Adult Center development at Payne Park is receiving a $750,000 grant from the state Regional Economic Acceleration and Development Initiative. It will replace an existing building g that dated back to the 1800s, modernizing the space to better serve the community’s senior population, and provide space for residents of all ages to meet and to socialize. There will be two new housing additions, a theater, an outdoor venue including a stage. There will also be large and smaller spaces for groups to use and increased parking.

Demolition of the existing building began this summer, and construction is expected to be complete by the end of next summer.

Governor Eric J. Holcomb established the READI program in 2021 and it grew to $1.25 billion in matching grants. In 2023, the Indiana General Assembly allocated another $500 million to regions around the state. Allocations were announced in April.

Franklin is part of the central region, led by the Central Indiana Regional Development Authority.