Fort Wayne’s Legacy Committee held its regular year-end meeting at 5:30, the first meeting of the body since spring.
The status of the fund has been the subject of much scrutiny, leaving some projects in limbo. On Tuesday, city controller Garry Morr provided an update with the exact numbers remaining in the fund.
As of the most recent counting on October 31, the fund just around $37 million in cash and investments held in trust. Accounting for outstanding loans, the fund's total assets come to just over $40 million.
He says Fort Wayne had a good year financially, providing a more optimistic outlook for the fund than recent updates.
“I watch those funds actually daily and send reports out to committee members at the end of each month. Very closely monitored, and we are very fortunate with the market growth of our fund,” Morr said.
Morr noted the $10 million that was pledged to Electric Works is set to be disbursed in 2020, thus is not reflected in the current numbers.
