Mayor Tom Henry on Wednesday urged the Legacy Joint Funding Committee to approve the application for funds submitted by the group seeking to redevelop the former General Electric campus into a multi-use facility.
Henry's announcement came hours before the committee met Wednesday night to consider the application submitted by RTM Ventures and Broadway Redevelopment Partners, the principals behind the "Electric Works" project.
"Of course, final approval of any recommendations from the Legacy Joint Funding Committee would rest with City Council and myself," Henry said in a statement. "Any release of Legacy funds and what an entire local funding assistance package could look like would obviously be contingent on RTM/Broadway meeting the requirements that will be defined in a development agreement that’s in the process of being finalized."
The mayor added that his administration was "working diligently" to determine the best path forward for Electric Works, though he has been criticized for some for standing firm on a $50 million City funding figure for the effort, while developers sought $65 million in public funds.