FORT WAYNE, Ind. (WOWO): The deal between the City of Fort Wayne and the developers of the Electric Works campus took an important step forward Monday.
The Fort Wayne Redevelopment Commission approved an economic development agreement that would dedicate $62-million in city funding toward the redevelopment project’s first phase on a 4-1 vote, with Jason Arp being the only vote against the deal.
The Journal Gazette reports the vote doesn’t release any funding just yet; it just gives RTM Ventures 90 days to get the rest of the commitments it needs, including $10-million from the Fort Wayne Legacy Fund and $45-million from the Allen County-Fort Wayne Capital Improvement Board.
The project, to be located on the former General Electric campus in downtown Fort Wayne, will include office, education, retail, restaurant, and recreational spaces, plus 82,000-square-feet set aside for apartments.