Local News

Fort Wayne Legacy Fund moratorium proposed

(Photo supplied/City of Fort Wayne)

FORT WAYNE, Ind. (WOWO): Fort Wayne’s Legacy Fund is being called into question.

Council President Russ Jehl proposed putting a hold on any future disbursements from the fund during last night’s City Council meeting, according to the Journal Gazette.

It came after a request to use $10-million from the fund for riverfront development projects, which led to Jehl asking the council not to spend any more until they get a “firm number” on what’s left.

Mayor Tom Henry, in an email statement to WOWO news, says he’s “committed to making wise investments,” and has provided a report on the fund, which you can read here.

FW Legacy Cashflow Through 2025 Revised 08-22-16 by Saige Driver on Scribd

“Fort Wayne continues to be a place people are talking about,” Henry says. “We’re experiencing momentum and investment in our downtown and neighborhoods like never before.”

“We continue to be good stewards of the Legacy fund. Through the Legacy Joint Funding Committee, which includes three members of City Council, there are checks and balances in place to ensure only Legacy-worthy projects receive funding. No project receives funding without combined approval from the Legacy Joint Funding Committee, City Council, and myself.”

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1 comment

Jason Pence August 24, 2016 at 1:39 pm

It is too bad that the money is being spent so quickly. I personally don’t think money should be used for operations. Capital investment only.

Reply

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