Fort Wayne City Council advanced a tax increment financing (TIF) incentive for developers in a 6-3 preliminary vote Tuesday night.
The incentive aims to bolster the Public Art Fund. Developers who commit to a project in a TIF district must contribute one percent of the overall cost to the fund. They can choose to commit 50 percent of the contribution to art on the property, and contributions are capped at $100,000. Funds from the Public Art Fund would then be used to integrate more public art into city spaces.
Councilman at-large John Crawford proposed an amendment that would not make the contributions mandatory, which did not pass. The measure is expected for a final vote next Tuesday, March 27.
