Electric Works takes center stage at Fort Wayne City Council meeting

Tuesday, the Redevelopment Commission said they've lost confidence in RTM Ventures who is the developer for Electric Works. The Redevelopment Commission said after numerous extensions, it's too much of a risk to continue with them as a lead on this project.

Posted: Sep 8, 2020 11:29 PM
Updated: Sep 9, 2020 9:18 AM

FORT WAYNE, Ind. (WFFT) - If the deadline was Tuesday, Sept. 8, RTM Ventures says they have everything they need to move forward with the Electric works project.

Rather or not a new deal can be worked out is not certain.


City of Fort Wayne: Electric Works Preview

The Redevelopment Commission is suggesting a new developer, but RTM Ventures owns the property.

“It's difficult and challenging, but we've done it before. It's not a matter of celebration or a pat on the back. We have lost confidence in a development group before. We've had to terminate development agreements before when we believed and saw they were not able to perform. We've always been able to pivot to another team or another way of getting a development,” Community Development Director Nancy Townsend explained.

At the meeting, the council learned there was no dialogue between the Redevelopment Commission and RTM Ventures since the termination of the agreement to see if a new deal would be possible.

The Redevelopment Commission is willing to work with RTM Ventures just not with them as a lead on the project.

“We can't snap our fingers and do something completely different now that we're at the eleventh hour trying to get this closed.
We have it put together as you've heard from our team as well as the business leaders that this deal is solid. The elements are there,” Kevan Biggs with RTM Ventures said.

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