County will pay $1 million for Electric Works, plans to discuss funding with mayor

The $65 million redevelopment of the old GE plant was discussed this week at Mayor Tom Henry's press conference. The city has already pledged $50 million, but the mayor said the city, "just doesn't have," the remaining $12 million needed.

Posted: Apr. 13, 2018 11:33 AM

FORT WAYNE, Ind. (WFFT)- Allen County commissioners released a statement Friday saying they will honor their $1 million pledge to help fund Electric Works. 

The $65 million redevelopment of the old GE plant was discussed this week at Mayor Tom Henry's press conference. The city has already pledged $50 million, but the mayor said the city, "just doesn't have," the remaining $12 million needed. 

The mayor mentioned asking the county if they can fund the rest of the project. 

The county said in the statement, 

"Allen County government is cognizant of the impact a thriving downtown Fort Wayne can have
on our community as a whole. We have been happy to play a leadership role in development
projects such as the boutique hotel, Riverview development and Hall’s Restaurant relocation by
providing direct funding or in-kind land donations which are making these transformative ideas
realities. The Electric Works project which has garnered much attention offers significant
revitalization opportunities for the downtown area. Yesterday, Mayor Henry indicated during a
news conference his intention to “work with Allen County to secure their financial commitment for
the project.” Allen County pledged $1 million in funds last December to Electric Works
developers — a pledge the county intends to honor. While no specific request for additional
assistance has been made to the county, there are a number of questions which need to be
answered and details which must be addressed before any more county funds can be
committed. To that end, we hope Mayor Henry and officials with the Electric Works project will
meet with commissioners and members of County Council so we can gain a better
understanding of their funding sources and how we might best continue in our leadership role.
We understand time is of the essence. However, any decisions we make must take into account
what is best not only for downtown Fort Wayne but for all citizens of Allen County."

County Commissioner, Therese Brown, told FOX 55 Friday she's looking forward to discussing the funding options with Mayor Henry and the developers of the project, and deciding if the project is feasible. 

Developers need the full $65 million by December of 2020 to make the project a reality. 

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