FORT WAYNE, Ind. (WOWO): A proposal for money from Fort Wayne’s Legacy Fund for the Electric Works development has moved forward.
The city’s Legacy Joint Funding Committee advanced a proposal from developers RTM Ventures for local funding for the mixed-used project on a 7-2 vote Wednesday.
The Journal Gazette reports the Committee didn’t specify just how much money would to go to the project, which the developers say needs a total of $65-million in local dollars to move forward.
One possible option is to approve the $13.6-million request but to split it between a $7.6-million grant and a $6-million loan.
A final decision will come in the near future. Mayor Tom Henry, whose support for the project has come into question recently, urged the Committee to support the project.