Tuesday, July 24, 2007

City Council Bond Financing Vote Tonight?

Harrison Square in the Home Stretch
http://wane.com/Global/story.asp?S=6827805

"
Back-to-back meetings at the City-County Building Monday gave Harrison square the thumbs up."

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The Plan Commission approved the city's request, meaning the land is now largely zoned as commercial. The Redevelopment Commission considered, and approved, four different agreements."

""We'll be meeting Wednesday morning and will decide whether we're going to pursue this with a request to the court for a temporary injunction," says Kalb.

Kalb says his main reason for raising that issue is to stop the Harrison Square Project outright. He appears to be in the minority: since being introduced in December, Harrison Square has gotten all of the necessary approvals."

Harrison Square earns final nods; council vote next
http://fortwayne.com/apps/pbcs.dll/article?AID=/JG/20070724/LOCAL/707240316

"
The Harrison Square development deals received final approval Monday after city officials detailed how the hotel subsidies are smaller than what has been offered in other similar Midwest projects."

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Today, the Fort Wayne City Council will discuss the project during its regular meeting. Although it will likely discuss the agreements between the city and developer, the Redevelopment Commission has the sole vote to approve the deals.

The council does have to approve a $50 million bond to finance a portion of the project."

Harrison Square is good to go
Redevelopment Commission approved the city's agreement with investors
http://fortwayne.com/apps/pbcs.dll/article?AID=/SE/20070724/NEWS/707240309

"The Redevelopment Commission is the only governing body in city government that must approve the agreements that outline the specifics of the $125 million-to-$160 million downtown revitalization project. The project’s private investors signed the documents Friday."

"City Council could vote tonight on the $50 million bond lease that will help fund the hotel. Leatherman said the bond issue would then be taken to the state’s Local Government Finance authority in August for approval.

“That’s definitely the last significant hurdle,” Leatherman said."

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