Indiana launches RAPID program and disaster relief funds

Indiana officials have launched new financial initiatives to assist communities and residents recovering from severe flooding and storms that occurred in August.

The Indiana Treasury Department introduced the Recovery Advance Program for Infrastructure Damage (RAPID). This program allows local government units to borrow up to $1 million through the Indiana Bond Bank to address infrastructure needs. The program has $50 million available and offers loans at a 2% interest rate to facilitate faster recovery for hard-hit areas, such as Connersville and Gary.

Simultaneously, the Indiana Department of Homeland Security (IDHS) reported that more than 40,000 residents have applied for the State Disaster Relief Fund. Payments are currently being processed for eligible applicants. To manage the high volume, IDHS is working with a vendor, Bright Harbor, to process applications. Applicants may be required to provide additional documentation, including proof of identity, ownership, and payment information, to complete their final review.