Time Marches On

Stadium deadline
http://www.fortwayne.com/mld/journalgazette/16991351.htm

From the article:

"If the city sells bonds by Dec. 31, it will recoup $10 million in tax credits from the Community Revitalization Enhancement District. This is a key part of the financing – taxes paid by the new development help pay for the development."

"But because the state has imposed a deadline for dedicating the tax credit to a project, that money is off the table after 2007."

"Then, there is a softer – but very real – deadline. The city has an interested and experienced developer willing to invest $19.5 million in the project. But Hardball Capital, the owner of the Fort Wayne Wizards, is not going to wait forever for an answer"

"Councilman Sam Talarico, R-at large, warned the council that “Deals don’t just hang around for months on end. They disappear.” He said as a lawyer he represents businesses wanting to buy other businesses and has learned this fact from his experience.

The deal will not be there forever."