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

Janaury 31, 2020 – Mayor Tom Henry today announced his support for an additional 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 April 30, 2020 for financing commitments to be met and June 30, 2020 for the closing on the transaction.

Local public financing partners will consider the request at upcoming meetings of the Fort Wayne Redevelopment Commission, the Allen County Fort Wayne Capital Improvement Board of Managers, and Allen County Commissioners.