Commission OKs Electric Works TIF District
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowA new tax increment financing district that includes the proposed Electric Works project in Fort Wayne has received approval from the city’s redevelopment commission. The Journal Gazette reports the funds captured by the district would help cover more than $7 million in future infrastructure work in and around the former General Electric campus.
Prior to the commission meeting Monday, the city announced discussions between Fort Wayne officials and developer RTM Ventures were continuing and that a previously scheduled update to be provided to the commission from each party was called off.
RTM Ventures is seeking $62 million in public funding for the project that could involve $440 million in total investment.