RDA spreading news about $10 million seed money for projects, tell me about this news in (https://www.chicagotribune.com/2026/09/13/rda-10-million-seed-money-projects/)

The news revolves around the Northwest Indiana Regional Development Authority (RDA) establishing a $10 million Credit Enhancement Fund (CEF) to serve as catalytic seed money for Transit-Oriented Development (TOD) across Lake and Porter counties.Key Highlights of the Announcement

• Purpose of the $10 Million Fund: The fund was created to help developers, equity partners, and financial institutions overcome difficult financing environments caused by rising construction costs, supply chain bottlenecks, and higher interest rates. The money acts as gap financing and risk mitigation through tools like mezzanine debt, debt service/loan loss reserves, and predevelopment cost support.
• Target Areas: The seed capital is directed at Transit Development Districts (TDDs)designated zones surrounding transit stations (notably along the expanded South Shore Line commuter rail network) aimed at encouraging walkable, mixed-use commercial and residential growth.
• Featured Projects: Alongside this funding mechanism, the RDA highlighted major private investment taking root in these districts, notably a $243 million mixed-use development called Central Park Commons in Dyer near the Munster/Dyer station. That project includes plans for retail, restaurants, a fitness center, and a hotel.
• Broader Economic Impact: By providing this $10 million cushion, the RDA aims to unlock substantial private capital, clean up underutilized properties, and accelerate long-term economic revitalisation across Northwest Indiana communities connected to the regional transit corridor.