CIB approves new Electric Works deal

(Supplied/RTM Ventures)

FORT WAYNE, Ind. (WOWO): Fort Wayne’s Electric Works project has taken another official step forward.

The Allen County Fort Wayne Capital Improvement Board gave unanimous approval to a new economic development agreement, pledging $42-million to the project yesterday.

The Journal Gazette reports that it is virtually identical to a previously canceled agreement, with the only change being the addition of The Model Group as co-developer and Tim Ash as an investor and partner.

The prior deal was terminated when the Fort Wayne Redevelopment Commission pulled out back in August, citing missed financial deadlines and obligations by developer RTM Ventures, which they disputed. 

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