FORT WAYNE, Ind. (WOWO): Things behind-the-scenes are going better at the Electric Works development than you may think.
That’s the message developer Kevan Biggs had for the Fort Wayne Rotary Club Monday. He tells our Partners in News at ABC 21 that while a July 1st deadline for getting federal tax credits is a “moving target,” he’s excited about what he’s seen nonetheless.
“We’re thrilled that we’re less than one-quarter into our actual leasing activities and we have approximately 100,000 square feet already out for signature to be committed,” Biggs says.
As for the tax credit deadline: “The deadline was created by tax reform, late December. And that guidance of what that means is currently being written by a roomful of attorneys in Washington as to what actually defines the start of construction,” he adds.
Biggs says they’ll offer public tours of the campus soon, and notes that while they do plan to ask for $60-million in local funding, that won’t happen until all other needed funding sources are identified and secured.