FORT WAYNE, Ind. (WOWO): The Allen County- Fort Wayne Capital Improvement Board has voted to contribute $50,000 toward a $200,000 initiative to have Fort Wayne become one of the two cities chosen for Indiana's “regional cities initiative.”
According to the News-Sentinel, the board voted Thursday morning to have the application ready by July 1st.
Under a new bill before the General Assembly, the governor's budget allows for two cities to get $21 million over the next two years, as a state match for public-private partnerships.
The state program would offer a 20 percent state match and require a 20 percent local-government match, with a 60 percent investment in projects. This would make the cities much more appealing, according to John Sampson, President and CEO of the Northeast Indiana Regional Partnership.
Over the next 10 years, the state's match could leverage investment of $800 million to $1 billion.