{"id":76827,"date":"2020-02-27T11:30:54","date_gmt":"2020-02-27T16:30:54","guid":{"rendered":"https:\/\/aroundfortwayne.com\/news\/?p=76827"},"modified":"2021-02-06T07:32:37","modified_gmt":"2021-02-06T12:32:37","slug":"funding-for-downtown-projects-approved","status":"publish","type":"post","link":"https:\/\/aroundfortwayne.com\/news\/2020\/02\/27\/funding-for-downtown-projects-approved\/","title":{"rendered":"Funding for downtown projects approved"},"content":{"rendered":"

\"CIB<\/p>\n

The Allen County-Fort Wayne Capital Improvement Board (CIB) approved funding for two downtown projects this morning.<\/p>\n

<\/p>\n

Both projects are by developer Barrett & Stokely and both are part of the City’s riverfront development efforts. <\/p>\n<\/a> Renderings of the soon to be constructed Lofts at Headwaters. Developers for the project are Barrett & Stokley who provided the image.\n

The first project is The Lofts at Headwaters.<\/p>\n

Funding from the CIB is $950,000 for the first year and the second year will be $450,000 for a total of $1.4 million. This will allow the City to make lease payments to Barrett & Stokely for the parking garage component of the project. The other funding will come from parking revenue the garage will generate, TIF, and local income tax.<\/p>\n

\"Annual<\/a>
Chart of annual lease payments by the City of Fort Wayne to Barrett & Stokely for the parking garage at the Lofts at Headwaters. Chart provided by the Fort Wayne Redevelopment Commission.<\/figcaption><\/figure>\n

 <\/p>\n

\"The<\/a>
The Premiere Riverfront at Promenade Park at Harrison and Superior Streets. Rendering provided by Barett & Stokely, developer of the project.<\/figcaption><\/figure>\n

The second project is Riverfront at Promenade Park.<\/p>\n

The CIB portion of funding will be:<\/p>\n

1st year – $1.500,000
\n2nd year – $1.250,000
\n3rd through 25th year – $1,000,000 each year.<\/p>\n

The total will be $25,750,000.<\/p>\n

\"Annual<\/a>
Chart of annual lease payments by the City of Fort Wayne to Barrett & Stokely for the parking garage at the Riverfront at Promenade Park. Chart provided by the Fort Wayne Redevelopment Commission.<\/figcaption><\/figure>\n

Related Images:<\/h3>
\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t<\/div>","protected":false},"excerpt":{"rendered":"

The Allen County-Fort Wayne Capital Improvement Board (CIB) approved funding for two downtown projects this morning.<\/p>\n","protected":false},"author":2,"featured_media":1,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[18973,21570],"tags":[1283,24152,23,47,21568,21957],"class_list":["post-76827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capital-improvement-board-of-managers","category-the-riverfront-at-promenade-park","tag-allen-county-fort-wayne-capital-improvement-board-of-managers","tag-barrett-and-stokely-inc","tag-fort-wayne-indiana","tag-parking-deck","tag-the-lofts-at-headwaters-park","tag-the-riverfront-at-promenade-park"],"yoast_head":"\nFunding for downtown projects approved<\/title>\n<meta name=\"description\" content=\"The Allen County-Fort Wayne Capital Improvement Board (CIB) approved funding for two downtown 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