Report: Electric Works in jeopardy unless Mayor changes mind about funding

(Photo supplied/Greater Fort Wayne Inc.)

FORT WAYNE, Ind. (WOWO): The future of the Electric Works development could rest on the shoulders of Fort Wayne Mayor Tom Henry.

Developer RTM Ventures says if Mayor Henry sticks to his recommendation of a $50-million cap on local support from the city and Capital Improvement Board – instead of the $65-million they say they need – the mixed-use project can’t be done, because it then won’t get the other $150-million in promised private investments.

But, according to the report by the News-Sentinel, there’s a possible compromise, as the developers say they could make room for one of Henry’s most-desired pet projects to sweeten the deal: a new downtown arena.

Henry told WOWO News late last year the failure to get a downtown arena and event center off the ground was one of his biggest regrets of 2017.

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