News release from the City of Fort Wayne:
City demonstrates commitment to investing in the future with increase in neighborhood infrastructure enhancements
$30 million bond to be introduced at City Council meeting on Tuesday(February 7, 2014) – Fort Wayne residents will see a record amount of neighborhood street, road, and sidewalk improvements beginning this spring.
Mayor Tom Henry today announced the City Administration will introduce an ordinance to City Council on Tuesday, Feb. 11 that calls for a $30 million bond for infrastructure improvements in City neighborhoods.
The bond, along with funding through the financial plan passed by City Council last June as part of the Fiscal Policy Group created by Mayor Henry that allows for pay-as-you-go funding for future projects, would allow the City to complete the backlog of street and road projects by the end of 2018.
The process to explore the option of an infrastructure bond was originally discussed with City Council last fall.
“We’re demonstrating a strong commitment to investing in our future by allocating substantial funding to enhance our neighborhoods and meet the needs of the community,” said Mayor Henry. “We’re recognized as a leader in job growth, economic development, and quality of life. We strengthen our ability to be the best by investing in streets, roads, and sidewalks.”
Following introduction on Tuesday, the bond is scheduled to be discussed on Tuesday, Feb. 18, with possible final passage on Tuesday, Feb. 25.
A complete list of infrastructure projects for 2014 will be announced in the coming weeks.
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