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Funding extension granted to Electric Works developers

Allen County Commissioners approved a deadline extension until late APril for developers behind the possible Electric Works project to secure funding.

Posted: Nov 1, 2019 11:07 PM
Updated: Nov 18, 2019 2:34 PM

FORT WAYNE, Ind. (WFFT) — Allen County Commissioners made it official on Friday morning. Electric Works has more time.

"We're happy biding our time and seeing what the next level brings us," says Allen County Commissioner Nelson Peters. "We need to step up to the plate and ensure that we are doing everything we can to make the project succeed."

The approval was unanimous in extending the deadline, the second time the project has been delayed.

Developers R.T.M. Ventures to secure nearly $62 million dollars.

"With any deal there's going to be steps along the way and kind of fits or stalls or challenges so having the dealine extended is something we're used too," says John Urbahns, CEO and President of Greater Fort Wayne Inc.

It's a project the organization and other entities in the city are working towards creating, and eager to see complete.

"Those buildings have been there for 100 years the have great they have great bones and are underutliized," says Urbahns. "Development is a great opportunity to bring capital in.

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