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MAYOR HENRY ANNOUNCES SUPPORT FOR EXTENSION TO ECONOMIC DEVELOPMENT AGREEMENT FOR ELECTRIC WORKS PROJECT

October 3, 2019 – Mayor Tom Henry today expressed his support for an extension to the economic development agreement for the Electric Works project.

RTM Ventures has made a formal request to have the agreement extended to allow for additional time to finalize private financing and secure tenants. The proposed new milestone dates would be February 1, 2020 for financing commitments to be met and April 30, 2020 for the closing on the transaction.

The Fort Wayne Redevelopment Commission will consider the request at its next meeting at 4 p.m. Monday, Oct. 7 at Citizens Square in Room 030. In addition, the Allen County Fort Wayne Capital Improvement Board of Managers and Allen County Commissioners will need to approve the extension request.

“Successful public-private partnerships can be complex and take time. They’re critical to advancing our community and region as a point of destination for job and business growth, strong neighborhoods, and attractive quality of life amenities,” said Mayor Henry. “I want to see Electric Works happen and succeed and positive progress is being made. The public financing bodies involved in this project are committed and engaged partners with the Electric Works development team as the process continues to move forward.”

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