Council Gives Preliminary OK For Key Electric Works Funds

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(rendering courtesy RTM Ventures) (rendering courtesy RTM Ventures)
FORT WAYNE -

The high-profile Electric Works project is moving forward following three key votes by the Fort Wayne City Council. Proposals involving $10 million in Legacy funding, $3.5 million in local income tax funding and $3.5 million in tax deductions for development partners RTM Ventures received preliminary approval Tuesday.

The city previously announced it planned to allocate a total of $62 million toward the project that is expected to involve $440 million. The bulk of the city's funding pledged toward the redevelopment of the old General Electric campus -- $45 million -- will come from Capital Improvement Board funds.

In a statement posted on Facebook, Mayor Tom Henry said:

The Journal Gazette reports the resolutions will face a vote by the full council next week.

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