Coats: Planned reservoir can't rely on fed money Created by djackson on 8/22/2014 2:52:36 PM
ANDERSON, Ind. (AP): U.S. Sen. Dan Coats says planners of a proposed central Indiana reservoir shouldn't look to the federal government for help in financing the $450 million project.
The Indiana Republican said during a Thursday visit to Anderson that the Mounds Lake Reservoir's proponents should ``plan as if there weren't federal funds available'' for their proposal to dam the White River.
Rob Sparks of the Economic Development Corp. tells The Herald Bulletin (http://bit.ly/1niEkbp ) local officials will seek federal grants and money to offset construction costs for the reservoir between Anderson and Muncie.
But Coats says projections indicate 93 percent of future federal revenues will go toward entitlement programs, leaving 7 percent for defense, health and education.