FORT WAYNE, Ind. (WOWO): Fort Wayne City Council is weighing in on Cityscape Flats- a development may not have to pay any property taxes for 10 years.

According to the Journal Gazette, the $24.3 million residential project in downtown Fort Wayne is planned for west of Parkview Field. If City Council approves a requested tax abatement at their next meeting on July 14, property taxes would be due in full at the end of the 10-year period or when the project's overall tax savings reaches $3.5 million.

City Economic Development manager Elissa McGauley told the Journal Gazette if the abatement generates less than $3.5 million in tax savings over the 10-year period, the difference would be made up from tax increment financing revenues.

The Superior Lofts project at 102 and 124 W. Superior St. was granted a similar abatement deal a few months ago.