REGIONAL RTC / STOI

BACKGROUND

The IEDC recently announced the roll out of Regional Redevelopment Tax Credits. The IEDC is now tasked with awarding $35M of redevelopment tax credits to regions per fiscal year. CIRDA is responsible for assessing all projects that are submitted and ranking the projects that are most significant in the region. If multiple projects are submitted within your county or municipality, CIRDA will ask the county or municipality to rank the projects submitted. Information regarding this program and other resources can be found here:

​​​​IEDC RTC & STOI Info

To be considered for the first round of funding, projects must be submitted to CIRDA by Monday, October 12, 2026. Below is additional information on project eligibility, timeline, and how to submit your project:

PROJECT ELIGIBILITY

• Eligible projects include vacant or underutilized properties (parking lots, greenfields, dilapidated structures, low occupancy buildings).

• Project types that are eligible are for-rent multifamily (IEDC does not typically support LIGTC projects with these credits), mixed-use development, hospitality type projects (hotels).

• Single family for-sale projects are not eligible projects.

TIMELINE

• Submissions Due: Monday, October 12, 2026

• CIRDA Review Committee Recommendations: Friday, October 16, 2026

• CIRDA Board of Directors Consideration: Wednesday, October 28, 2026

• CIRDA Submission to IEDC: Saturday, October 31, 2026.

HOW TO SUBMIT

Please fill out the project submission form here: CIRDA RTC Submission Form

The following information is also required to be uploaded using the above link.

• IEDC Regional Redevelopment Tax Credit Pre-Submission Checklist (Attached template)

• Letter of support for the project from the county, city, or town

• A proposed, itemized budget

• A cashflow operating proforma that reflects the hold period of the project

• A site development plan

• Matching fund supporting documentation

• Any other relevant documents or materials