Six projects, including Electric Works, to receive tax credit in - ABC21: Your Weather Authority

Six projects, including Electric Works, to receive tax credit investments

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FORT WAYNE, Ind. (WPTA 21) -

The City of Fort Wayne is investing in six projects located throughout northeastern Indiana, including the Electric Works project.

Mayor Tom Henry announced the investments during a news conference Thursday morning. The projects receiving funding are from Byron Health Center, Electric Works, Fort Wayne Rescue Mission, Fort Wayne Boys and Girls Clubs, Vestil Manufacturing, and The Landing.

ABC21 previously reported Byron Health Center leaders recently purchased several acres from Crossroad Child and Family Services off Lake Avenue, just east of the VA hospital, in order to grow as a long-term healthcare facility and perhaps branch into skilled nursing. It could also help employees by being on a bus line. This project received  $12.5 million in tax credit investments.

READ MORE: Byron Health Center site to be sold

The Electrics Works project is looking to revitalize the former GE campus. Cross Street Partners of Baltimore bought the campus for $5.5 million back in September 2017. ABC21 previously reported. The redevelopment aims to take the original buildings on the campus and re-purposing them for new retail, market, institutional, residential, hotel and community space. This project received $12 million in tax credit investments.

READ MORE: Mayor throws support behind Legacy Fund backing of 'Electric Works'

The Fort Wayne Rescue Mission is working to build a new downtown facility. The Rescue Mission is planning on building a new facility, located at the corner of Washington and Lafayette. ABC21 previously reported The Rescue Mission's president and CEO, Pastor Donovan Coley, says the upgraded was needed because of a 900% increase of residents at their current location on Superior Street. This project received $10 million in tax credit investments.

The Boys and Girls Club of Fort Wayne is working to build a new 42,000 square foot facility where the old one used to be. The organization provides after-school and summer programs to low-income, school-aged children. This project received $8 million in tax credit investments.

Vestil Manufacturing is building a new 225,000 square foot fulfillment center in the Angola area. Inside Indiana Business reports the company recently broke ground on its nearly $15 million expansion, which is expected to create up to 100 jobs by 2021. The jobs that will be created with the expansion include managers, welders and machinists, in addition to packaging, shipping and maintenance positions. This project received $8 million in tax credit investments.

The Landing is a restoration of seven buildings on West Columbia Street. An Ohio developer is working to convert the one-block section of downtown into attractive boutiques, galleries and restaurants and some apartments. ABC21 previously reported the Landing attracted tax credit allocations from two national CDEs in addition to the revitalization fund.

READ MORE: Fort Wayne one of two Indiana cities to receive New Markets tax credits

“I’m pleased the Fort Wayne New Markets Revitalization Fund is able to help fill financing gaps in such important projects,” Mayor Henry said. “By working together, we are helping create jobs and provide opportunities for residents to succeed throughout northeast Indiana.”

 In February, the City of Fort Wayne New Markets Revitalization Fund, LLC received $55 million in New Markets Tax Credits allocation authority.The fund received previous allocations of $15 million in 2008 and $33 million in 2014.

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