City continues negotiations with I&M

FORT WAYNE, Ind. (WANE) - According to a joint press release issued by  Indiana Michigan Power and the City of Fort Wayne , both entities participated in a mediation session Monday regarding issues surrounding the City Light Lease. The mediation session lasted throughout the day and late into the evening.

Although the parties have not reached an agreement, they have agreed to continue to negotiate. The parties will meet again for a formal mediation session on October 1, 2009, and intend to engage in discussions prior to that meeting. At the request of the mediator, John W. Whiteleather, both the City and I&M have agreed not to comment publicly about the negotiations.

The press release stated, "The parties both look forward to an amicable resolution to their negotiations."

I & M wants to keep serving about 33,000 customers in central Fort Wayne, and hope they can agree on a price to buy out the lease.

Mayor Tom Henry says so far, I & M's offers don't match what the privilege is worth.

City officials want to take the utility to the open market, to find the best and most financially sound provider.

The current lease agreement expires March 1, 2010.