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Council members updated on Legacy Fund status

Fort Wayne's Legacy Fund has about $7.4 million left in the bank.

Posted: Nov 13, 2018 9:33 PM
Updated: Nov 14, 2018 6:33 AM

FORT WAYNE, Ind. (WFFT) - Fort Wayne's Legacy Fund has about $7.4 million left in the bank.

City council members were updated on the fund during Tuesday's meeting.

It was a big year for the fund with the largest project being a $10 million grant for Electric Works.

If the city were to award the money left in the account it wouldn't be 2034 until the fund is back to $32 million where the city likes to keep the fund.

The Legacy Fund was created when the city of Fort Wayne sold its electric utility to Indiana Michigan Power.

Indiana Michigan Power is still making payments into the fund.

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