Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Breaking News:


Fort Wayne Mayor Tom Henry has passed away after a brief battle with cancer.

Electric Works Reveals Public Funding Needs To Council

Design Collaborative

Fort Wayne City Council called a meeting Tuesday night to discuss the possibilities for the future development of Electric Works, and it could come at a cost to the city.

Electric Works is the 39-acre, 18-building space on Broadway formerly occupied by General Electric, and its redevelopment is the work of a public/private partnership with the City of Fort Wayne and RTM Ventures. Electric Works hopes to bring offices, retail and residential spaces as well as entertainment to the redeveloped campus.

Jeff Kingsbury is with the development team. He says he believes it can support and enhance activities happening downtown while assisting with development along the Broadway corridor, noting Trubble Brewing and future plans for the Clyde Theater.

“We see that corridor offering tremendous potential for this community. We want Electric Works to be a heartbeat for that enhancement,” said Kingsbury.

Thus far, $150 million in tax credits have been secured for the two-phase, $440 million project, effectively covering just over one-third of the total cost.

But a sticking point for Council could be the public price tag: the first phase could run up to roughly $213 million, with a projected $65 million in local government support necessary to complete it.

Further complicating any future funding action is the team’s ambition to raise that $65 million by the end of February. Kingsbury attributes this to the federal tax reform, as some historic tax credits earmarked to the project would be revoked if construction does not begin in July and meet a two-year deadline.

Tuesday’s meeting was largely informational, with Council leaving comments to the public. Many were centered on environmental remediation concerns, something Allen County also addressed through a $1 million loan for clean up.

Zach joined 89.1 WBOI as a reporter and local host for All Things Considered, and hosted Morning Edition for the past few years. In 2022, he was promoted to Content Director.