FORT WAYNE (WANE) — The Fort Wayne Economic Development Commission met Thursday to move forward on a $32 million bond between the city and RTM Ventures, LLC, the developer of the Electric Works project.

The money will go towards Phase II, which is north of the old General Electric campus on Broadway. A parking garage and 296 residential apartments is planned just north of the railroad tracks.

The commission called for public comments on all three agenda items and received none. They then moved forward to unanimously approved them.

The three items were:

  • A Finance Agreement between RTM Ventures, LLC and the City of Fort Wayne
  • A Trust Indenture between RTM Ventures LLC, a yet to be identified trustee and the City of Fort Wayne in the amount of $32,000,000
  • A resolution for an Economic Development Revenue Bond Financing for RTM Ventures, LLC in the amount of $32,000,000

The main campus of Electric Works is set to open in the fall of 2022.