Friday, July 20, 2007

HS Financial Data

Links from City of Fort Wayne Website...

City paying more than developers for Harrison Square

"The city now is responsible for more than 53 percent of the total cost. Estimates released in April showed the city paying about 49 percent of the mixed-use development.

The developers of the new hotel, baseball stadium and retail and residential portions of the project near the Grand Wayne Center are paying about $10.4 million less now than the initial estimates, while the city is paying about $800,000 more, according to Roller’s figures. The cost of the project also has decreased $9.6 million."

"The cost of stadium construction was capped at $30 million. Hardball is paying $5 million toward construction. Contractors will bid on the entire project, and city officials are working on a strategy to cut amenities if bids end up higher than the cap."