FORT WAYNE, Ind. (WANE) – Developers for Electric Works have gotten all three key votes in delaying a deadline in getting public funds for the project.
Allen County Commissioners agreed Friday to extend their portion of the economic development agreement which was already approved by the city and the Capital Improvement Board.
The developers, RTM Ventures, now have a deadline of April 30 to finalize private funding and secure tenants in order to get $65 million in public funds. $3.5 million of that money was pledged by the county.
County commissioners also approved the continuation of cleanup on the campus.
The county signed an agreement last year, giving $1 million to RTM for removal of lead paint and asbestos in two buildings. That work has finished and the developer needed approval to spend the remaining $200 thousand working in additional buildings.
The CIB also approved $2 million in the cleanup efforts.