City leases utilities for Electric Works funding

This is part of the redevelopment agreement for the Electric Works projects between the city and developers.

Posted: Nov. 13, 2018 9:28 PM
Updated: Nov. 14, 2018 6:34 AM

FORT WAYNE, Ind. (WFFT) - Some utilities around the old General Electric plant are now in control of the Fort Wayne Redevelopment Commission.

This is part of the redevelopment agreement for the Electric Works projects between the city and developers.

The utilities in the agreement basically become collateral for the city's portion of the $65 million in local government funding that is being put in toward the project.

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