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The Journal Gazette

  • Jehl

Monday, October 15, 2018 2:08 pm

Councilman wants mayor to address Electric Works concerns

The Journal Gazette

Fort Wayne City Councilman Russ Jehl said today he will vote against the Electric Works funding package unless Mayor Tom Henry addresses two major concerns.
 
Jehl issued the following statement:

"Throughout the process of evaluating the Public Investment in GE Electric Works, I have advocated for an open and transparent discussion, a strong business case presented to the Public, and a deal crafted that works for the Taxpayer.  I have identified two deal points that could be addressed. I have remained open to supporting such a deal and have offered my conditional support in private discussions with the Administration, the CIB, and the Developer.  

"However, tomorrow the Administration will ask Council to support a Public funding package that substantially depletes the Legacy Fund and offers virtually no rate of return for the Public’s investment.  These two issues could be addressed by a Legacy loan, rather than a grant, and a tax phase-in, rather than the 100%, 10-year tax deduction less PILOT (payment in lieu of taxes) being requested. 

"If the Administration would like my support for the Project, these two issues (Legacy grant and super-abatement) must be addressed.  Otherwise, I intend to vote against the funding package tomorrow."

For more on this story, read Tuesday's print edition of The Journal Gazette or return to www.journalgazette.net after 1 a.m. Tuesday.