New Electric Works EDA Gets Redevelopment Approval
Faced with a brand new economic development agreement after months of uncertainty, Fort Wayne’s Redevelopment Commission has greenlit Electric Works to move forward on a 3-2 vote.
Last Tuesday, Mayor Tom Henry was joined by Kevan Biggs of RTM Ventures to announce two new lead partners as part of the new EDA: Ash Brokerage CEO Tim Ash, and Cincinnati-based The Model Group, best known locally for developing The Landing.
Many of the terms from the previous agreement remain intact, such as $65 million in public dollars being committed to the project, and many of the tenants that signed letters of intent are still on board -- that includes anchor tenant Do-It-Best Corp.
Jason Arp and Nathan Hartman were the dissenting votes.
Henry and Biggs both stated their desire to have the EDA approved by all necessary entities before the end of the year, so construction can begin in early 2021 not too far off the original schedule.