FORT WAYNE, Ind. (WOWO): Fort Wayne’s “The Landing” project is getting more cash.
The Northeast Indiana Regional Development Authority and The Model Group announced today that the $34.5-million project, which will redevelop seven buildings and two parking lots on West Columbia Street into a mixed-use development, has been approved to receive funding through the state’s Industrial Recovery Tax Credit, which provides an incentive to revitalize older buildings.
As a result, the Authority will be asking for less Regional Cities money, dropping their $6.9-million request to $4.8-million instead. That leaves more money for projects through the Regional Cities initiative, with seven projects in Wabash, Whitley, Noble and Allen Counties set for approval next Tuesday.
“The approval of the tax credits allows the RDA to consider funding for other regional projects, and that is a big win for the region,” says Michael Galbraith, director of the “Road to One Million” initiative. “This success is because of our teamwork as a region. Without these funds, the RDA’s only option would have been to consider big reductions in possible awards to the seven pending projects. In Northeast Indiana, collaboration is critical. Because of that strength, the RDA can continue the Road to One Million plan to attract talent to Northeast Indiana’s 11 counties.”
