FORT WAYNE, Ind. (WOWO): Mayor Tom Henry and other city leaders are asking for $10 million in Legacy funding for the riverfront development project.
During a press conference Monday, Henry said the money will help fund the construction for the first phrase of the project.
“This request demonstrates our commitment to making Fort Wayne’s riverfront a world-class development and positions us to be considered for financial contributions from other organizations,” said Henry. “Riverfront development is critical to the current and future success of our city and region.”
The Legacy Joint Funding Committee will review the request at 5:30 p.m. Nov. 9 at Citizens Square.
If the committee approves the request, the City Council will see the request on November 22. The final vote is set for Tuesday, Dec. 13.
Henry said the whole project is a little more than $30 million.
“We have about $12 million secured so far,” Henry said. “We are talking to the private sector and to foundations about donating another $5 million or $6 million. But, there is no question that the $10 million we are requesting is really going to be the foundation for further contributions by the private sector.”
Construction is expected to start in 2017 and is set to be completed in 2018.
RELATED: First phase of riverfront development to cost $16 million more than expected
Residents can follow along with the riverfront project by visiting Riverfront Fort Wayne’s website.
1 comment
Mayor Tom is spending legacy money like it’s not his… It is really burning a hole in his pocket. Any project that has to be government subsidized is sure to fail. Private investors are smart enough to not waste their own money. Mayor Tom might as well stand on a bridge over the river and just pour the money in.