Electric Works financing deadlines pushed back

(Photo supplied/Greater Fort Wayne Inc.)

FORT WAYNE, Ind. (WOWO): The goalposts have moved for Electric Works.

After arguing that the recent federal government shutdown impacted their efforts to get tax credits and grants, RTM Ventures was granted an amendment to their agreement with the City of Fort Wayne by the city’s Redevelopment Commission Monday.

The Journal Gazette reports the amendment moves the deadline for the developer to get financing commitments from December 31st of last year to July 1st of this year. The city is chipping in $62-million toward the project’s $248-million Phase One.

All of the money, including tax credits, financing, and public investments, also must be in place by the end of November.


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