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Friday, May 17, 2024

Electric Works project secures private funding to move project ahead

Credit: WFFT
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Electric Works project secures private funding to move project ahead
Electric Works project secures private funding to move project ahead

A spokesperson with RTM Ventures told Fort Wayne City Council on Tuesday they had recently secured a loan needed to get past the June 30 deadline and are hoping to start construction by October.

On a rollercoaster and there are many in a project like thiskevin biggs with r-t-m ventures says a project like electric works is never easy to complete..

But covid 19 made things even more difficult.now..

He told fort wayne city councilmembers tonight... he's got some good news.full approval on private debt side and now options of turn sheets with equity needed to get past deadline to get us closing on the projectthis means the loan they were able to secure gives them the money to move forward with the project.its a project many local and state officials have been looking forward too... but have seen delayed.number one its important to remind ourselves the big picturebiggs and tim pape with fort wayne allen county economic development point to other public private partnerships in fort wayne that have worked and taken time..

Like south town and the tin caps stadium.

If we were in innings we're not in 7 or 9 we're in mid inningsthey point to the benefits the electric works project will have on the south side of fort wayne.the impact like this is like no other its localized neighborhood impact delivering things healthcare and fresh foodand pape says with the recent movements around the world... developers and companies are doubling down on a commitment to inclusiveness.equal opportunity for all health care with education component for children who dont have the opportunity to best space technology and interactions right at there fingertips

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