An extension for public financing of the $440 million Electric Works mixed-use innovation district in Fort Wayne will be voted on today. Our partners at WPTA-TV report the Fort Wayne Redevelopment Commission will discuss the deadline extension for public financing for the project.
Later this week, the Capital Improvement Board will consider a similar proposal. RTM Ventures, the developers behind the project, made a formal request to extend its economic development agreement with the various city and county agencies providing public funding last month.
Approval from both the commission and the board is needed to extend the timeline for Electric Works developers, a move the station says is endorsed by Fort Wayne Mayor Tom Henry.
Officials from Electric Works say a major “anchor tenant” has been secured for the former General Electric manufacturing site, which is slated to be unveiled Thursday.
WPTA-21 reports that without the deadline extension, the project itself would be in “serious jeopardy.”