With any big project comes a tedious process to get the idea off the ground.
For the Electric Works project that is no different.
Developer Kevan Biggs tells WANE 15 environmental clean up is already underway at a couple of buildings in the former GE campus, but not construction.
To be able to begin construction on the mixed-use campus, first the project has to secure needed funding.
Developers are counting on millions of dollars in federal tax credits to help finance part of the project.
However, because the federal government shut down for more than a month earlier this year – paperwork has backed up and now the project is behind schedule.
“That unforseen challenge was going to make it extremely difficult if not impossible for us to meet some of the original deadlines that were spelled out in the economic development agreement,” said Biggs.
To keep the project moving forward, Electric Works developers filed for an extension to pin down needed federal dollars. The Fort Wayne Capital Improvement Board approved the extension and is now giving developers until November 30 to meet those requirements.
It is extra time that developer Biggs said will also help them secure more tenants which is something they need to do under their agreement with the city.
“Which, we have now until the end of November to be fully funded and closed and then construction will start, full construction,” Biggs added.
The extension also gives developers until November to get signed leases for at least 250,000 square feet of space. Biggs said they have letters of intent for just under half of that space, but he is confident they will find the rest in time.