Richard In Review

Graham Richard's 8 years in office: A job review
He could've been a better public figure, but says he changed city's attitude
Link (NS)

"He said his greatest accomplishment comes in the form of an attitude adjustment for the city, like a moody teenager who grows up.

Take, for example, Renaissance Pointe, the neighborhood renewal program on the city’s southeast side, where three local builders are filling vacant lots with new homes and remodeling some of the old ones.
[...]
"Richard calls it a can-do attitude, and while he said its best example is in the rejuvenation of Southtown Mall, he can point to it in other projects he initiated, such as Harrison Square, the $125 million-to-$160 million downtown revitalization project."
[...]
"But not everyone was a fan; some of Richard’s initiatives weren’t always lauded by city residents. Richard came under fire when he decided to reorganize the police department as well as the city staff that works with neighborhoods, converting both to quadrant systems. And the jury’s still out on Harrison Square, an initiative that at one time had 70 percent of city residents against it.

Five months after Richard took office, Allen County Republican Chair Steve Shine delivered a speech to his party’s faithful. “If someone were to make a movie about the Richard administration’s efforts thus far, the title would have to be ‘Clueless,’” Shine said.

But those thoughts have changed. “He has gone from ‘Clueless’ to ‘Got it,’” Shine said Thursday, applauding Richard for his environmental work with the sewer system, the introduction of broadband and the revitalization of downtown Fort Wayne."

Harrison Square 2nd On '07 Story List

Top 10 stories of 2007 Local
Link (JG)

"2. Harrison Square moves forward - Throughout 2007

Late last year, Mayor Graham Richard announced plans to build a new baseball stadium downtown. And the stadium — scheduled to open for the Wizards' 2009 season — would be only part of the mayor's mark on downtown. The deal for a public-private partnership to build the stadium also came linked to a new hotel, condominiums, retail space and a parking garage downtown. The cost of the Harrison Square project likely will be between $125 million and $160 million.

It proved controversial, not only because the stadium replaces a serviceable one on the city's north side, but also because of the tens of millions in public spending the project requires. A poll early last year found about 70 percent opposition to the plan. But its staunch defenders persevered, and the plan passed City Council."

Pushed Back

North River project delay
Link (JG)

"Mayor Graham Richard has decided not to buy land for the much-anticipated North River development by the end of his term, and the delay is best for the city and citizens.

Considering the property’s $4.3 million price tag, the decision should rest with the officials who will be responsible for the development: Mayor-elect Tom Henry and a City Council with four new members."
[...]
"But much remains to be settled, including:

Money. Like Harrison Square, the development will most likely involve both public and private money. But with Harrison Square, the developers were known and were ready to invest. No private developers ready to put money into the North River project have been identified.

Environmental issues. The property is the former site of an industrial scrap yard, and at least some environmental cleanup is likely. The city continues to study the extent of the cleanup necessary and has yet to tell the public what the studies have found so far. Any cleanup will have to be part of the purchase agreement.

Price tag. The city needs to seek an appraisal for the land to determine whether the $4.3 million price is fair.

Calhoun Street. Planners hope to extend Calhoun Street north to State Boulevard, with an accompanying 2-foot-wide strip of water beside the street. This is a huge, complicated project, and its need should be explored further before the city buys the land."
[...]
"The North River development remains vital for the city and offers a chance to enhance the value of the city’s rivers. All the pieces are not yet in place, and Richard is right to let Henry and the next council determine the project’s fate."

North River Update

City holds off on river land
Decision on OmniSource property left to Henry
Link (JG)

"Mayor Graham Richard will likely leave the decision on whether to spend $4.3 million to purchase 29 acres north of the St. Marys River to his successor.

John Urbahns, Fort Wayne director of development, said the mayor is still excited about the development possibilities the land presents, but the city won’t be ready to buy the property this year. The city’s purchase option, which expires at the end of this month, cost the city $25,000, which would have been applied to the purchase price.

“We will not be ready to execute the current option by the end of the year,” Urbahns said."
[...]
"The city, however, is still assessing the land and conducting environmental studies, Urbahns said. The environmental cleanliness of the site became an issue during the city election, as Richard’s administration declined to release environmental studies of the land.

That information would be made available as part of the final package if the city moves forward with the purchase, Urbahns said."

Post-groundbreak Press

Harrison Square Condos First-Day Sales
Link (WANE)

A square deal
It's official: Harrison Square construction begins
Link (NS)

Downtown condos draw potential buyers
A $1,000 deposit reserved a spot at Harrison Square
Link (NS)

Harrison condos: $150K-$300K
Prices in line with project that would have transformed hotel
Link (GFWBW)

Enthusiasm squared
Officials, developers make pitch at Harrison groundbreaking
Link (JG)

Officials mark beginning of Harrison Square construction
Link (GFWBW)

More Than a Ball Park
Link (INC)

Mayor and Other Civic Leaders Celebrate Harrison Square GroundBreaking
Link (INC)

Harrison Square Groundbreaking
Link (WANE)

Harrison Square Condos Go On Sale
Link (WANE)

Finishing Strong

Sprint to the finish
Link (JG)

"Harrison Square, of course, has been the biggest, most visible and most controversial achievement within his lame-duck period. Richard oversaw its conception and steered it through a maze of bureaucratic, legal and contractual roadblocks - all after announcing he wasn't running again. Construction has started, the official ground-breaking is this week, and despite widespread opposition that helped oust a veteran City Council member who supported it in this month's elections, Harrison Square is a done deal."
[...]
"Cynics, opponents and even some of Richard's fans might say he is hustling to pad his legacy. There's little doubt, for example, that Richard pushed hard to get Harrison Square past the point of no return before his term expires Dec. 31.

But “I don't think it has that much to do with ‘leaving his legacy,' ” said Deputy Mayor Mark Becker, who is also working diligently to accomplish Richard's goals. “It has more to do with the fact that he doesn't want to leave things undone.”"
[...]
"Another issue is far more visible than the sewers - the North River development northwest of Fourth and Clinton streets. Officials from both parties want to see the vacant former OmniSource property developed for multiple uses, possibly including an indoor water park, sports complex, a sci-tech learning center and/or residential housing. The city's $25,000 for an option to buy the land for $4.3 million expires with Richard's term, and the mayor clearly would like to do more than renew the option.

“I think the public will be well served by the city owning it,” he said. Richard's administration came under fire during the recent city elections for refusing to release environmental studies of the property, but the mayor noted that the studies are not yet complete and said they belong to the property's owners, not the city.

“It's an old site that had rail yards and recycling,” Richard said. “From what we're hearing, it's relatively clean for that type of site.”

Any agreement to buy the property would likely include details of any necessary cleanup."

Related DFWB coverage:
Sit-Down With The Mayor - An interview with Graham Richard conducted by DFWB in May of 2007

Richard Speaks On Square And Investments

Richard Reflects (WANE)

Related:

Sit-Down With The Mayor - A DFWB audio interview with Mayor Richard conducted in May of this year.

Planning For Tomorrow

click image to read report (PDF)
Scott Bernstein and Stephen A. Perkins, of the Center for Neighborhood Technology, submitted the above report to Mayor Richard recently. The report can be summed up with the following statement from the report's executive summary:

"Reconnecting Fort Wayne addresses three major areas of focus for Fort Wayne to achieve its goals: transportation, the knowledge economy and energy."

The report is 28 pages and is recommended reading. Here are some choice quotes from the report:

"Building Fort Wayne’s knowledge-based economy will ensure rising incomes and productivity for the city and its residents, and our recommendations regarding transportation choice and energy efficiency will decrease household transportation and energy costs in order to increase disposable income and build long-term wealth."

"For the vast majority of Fort Wayne residents today, transportation means owning a car. In 2005, over 97% of Fort Wayne commuters traveled to work in a car. Many residents of the city live in areas where a trip in a car is required for nearly every activity—not just getting to work, but doing the grocery shopping, going to church, going out to a restaurant, or anything else. Expanding transportation choices for Fort Wayne means building a city where car travel is only one of many options for getting around. By foot or bicycle, by bus or streetcar, and even by car sharing, there should be many ways to get around Fort Wayne. Car ownership can become a choice, not a necessity."

"Recent developments in Fort Wayne, furthermore, show promise for a more dense, more walkable future. Plans for mixed-use development at the Harrison Square and North River projects should be integrated with planning for a re-established streetcar line, so that people increasingly live near transit and transit increasingly goes where people live."

"Increasing density, especially near transit stops; improving the connectivity of transit, pedestrian and bicycle systems; and encouraging compact, pedestrian-friendly, mixed-use neighborhood (re)development will all support transportation choice, local economic development and household prosperity."

"Many of Fort Wayne’s current bus routes run along old streetcar lines. A new streetcar system, of course, would be designed to complement, not replace, the city’s buses. Streetcars can link downtown with neighborhoods and college campuses, and connect people to jobs, shopping and services."

Read the report for more insight into how Fort Wayne can expand transportation choice, capitalize on a knowledge economy, make efficient use of energy, and how to create healthy neighborhoods and prosperous families.

HARRISON SQUARE BOND GETS NOD FROM STATE

Harrison bond wins state's OK
Liked city's commitment; support cuts interest rate
Link

"Deputy Mayor Mark Becker said the state approval was the final OK needed to move forward with the project, and he said he was glad to get the support from the state. To get the state approval, the city had to prove it would never have to use general property taxes.

Becker said the city proved it had plenty of financial coverage for the development. The project is using a number of revenue streams, including economic development income taxes, property taxes from the project and property taxes from the Jefferson Pointe area."

"Richard said the city could move forward with the project regardless of the state’s approval. While this would force the city to pay more interest, he said the city would save money by preventing delays in an already tight construction schedule. The city plans for the Fort Wayne Wizards to play opening day 2009 in the new downtown stadium."

"The mayor’s pledge to move forward was one of the reasons Musgrave approved the financing, according to Mary Jane Michalak, state spokeswoman. She said because the city was going to move forward regardless of the state approval, Musgrave signed off on the financing to ensure taxpayers get a lower interest rate."

"With the financing secured, the city must complete negotiations to build an elevated walkway from the Courtyard hotel to Grand Wayne Center. The city hopes to do this indirectly by building a walkway from the hotel across Harrison Street to the Embassy Theatre building. This would allow people to use the walkway from the Embassy to the convention center.

Progress is going well on the walkway, Becker said, and he is confident a resolution will be reached that is satisfactory to all sides. Preliminary city estimates put the cost of the walkway at $900,000.

Becker said the city had just begun discussions on when a groundbreaking ceremony would be scheduled."

Harrison Square bond OK'd
The state's approval was the last needed for the project's funding
Link

"A much-awaited approval of a $45.9 million bond to help fund the $125-million-to-$160-million downtown revitalization project cleared its last financial hurdle Wednesday during a meeting of Indiana Department of Local Government Finance Commissioner Cheryl Musgrave, Allen County Commissioner Nelson Peters and Mayor Graham Richard.

“The approval by the state confirms the revenue streams are strong enough,” said Deputy Mayor Mark Becker, who said he was optimistic of a positive outcome."

"Greg Leatherman, deputy director for community development and instrumental in the purchase of the land allowing the project to move forward, said the city could have met with Musgrave before Wednesday. The county, however, had not yet provided data the Department of Local Government Finance had requested that could have affected Musgrave’s decision."

State OKs Harrison Square $49 million bond
Link

"Harrison Square cleared its final major financing hurdle Wednesday as the state approved the city’s $45.9 million bond for the development.

Fort Wayne Mayor Graham Richard and Allen County Commissioner Nelson Peters received the state’s approval for the bond’s financing in a meeting with Department of Local Government Finance Commissioner Cheryl Musgrave."

State endorses Harrison Square bond
Link

"Almost $46 million in bond financing for Harrison Square earned the approval of the state Wednesday.

The endorsement from the Indiana Department of Local Government Finance should enable the city to secure a lower interest rate for the life of the bond."

"In September, City Council approved issuing $18 million in anticipatory bonds so Harrison Square work could continue while the state considered whether to approve the $45.9 million bond.

In August, the state's Local Government Tax Control Board recommended approval of the bond with a property-tax backer. The city has said it has no intention of using property taxes to repay the bond, but the backer will provide a lower interest rate, giving the city a $4.1 rebate off the original $50 million projection."

Stately Delay

Harrison Square bond in bind
State backlog could drive up costs, Richard says
Link

"Fort Wayne Mayor Graham Richard said the city might choose to pay higher interest costs for Harrison Square to keep the development from being delayed and facing higher costs for building materials.

Richard said a logjam of requests with the state has put the city in jeopardy of not getting its $45.9 million bond approved in a timely manner. If the city waits for the state, he said it faces delays to an already tight construction schedule, as well as the likelihood that costs rise for materials like steel."

"Last month the Indiana Local Government Tax Control Board voted 4-2 in support of the financing package behind the Harrison Square project. The city has proposed using multiple revenues to pay off its debt, including economic development income taxes, property taxes from the project and property taxes from the Jefferson Pointe area taxing district."

"Musgrave had 90 days to approve the action, but city officials said the state sent a letter saying it was extending that deadline by another 90 days, which pushes the decision into next year."

"Richard said he was frustrated the state could take so long to approve a vital economic development project that would normally have received routine approval. He said he has no concerns about the merit of the city’s request, only that turnover at the state is causing the project approval to be delayed."

"Paying for the project without a property tax backup would increase interest costs, Richard said, but delaying the project has other costs. He said the entire project, which includes a Courtyard by Marriott with parking garage, a retail and condominium building and a ballpark, is a complex project that doesn’t have a lot of time to be completed. Jason Freier, Hardball CEO, said he has no doubts the stadium will be ready for opening day 2009."

Harrison Square Press Conference 9-19-2007

click image above to view the press release (PDF)

click image above to view more pictures

Graham Richard opened with comments to the effect that the City was proud to have "the best and brightest companies and employers" contributing to the project and also mentioned Fort Wayne's recent acknowledgement of being the #1 minor league sports city in the country.

Mayor Richard provided an anecdote of a long time Fort Wayne resident who commented to him that it looks to be the right time to invest his New York and Washington money into Fort Wayne instead.

Jason Freier then took the podium and thanked the participating companies for their long term commitment, which had a minimum of 5 years. The response was said to have surpassed their best expectations for interest in the suites. In a months time there were more commitments than the 12 suites originally planned and there was still a waiting list with the addition of 4 more suites by Hardball Capital. Companies were asked if they were willing to be flexible in their chosen dates and to share suite space with other interested companies.

Question: Can we hear from one of the companies?
Pat Sullivan of the Hylant Group responded that Harrison Square is a great opportunity to be involved in downtown and to bring employees and clients downtown.

Scott Glaze was then asked to comment on his involvement in downtown. Mr. Glaze commented that he was very excited about downtown and the ability to bring guests and visitors somewhere besides having them stay in hotels along the highway while in town.

An update was asked for in terms of naming rights and the sales of the condos and retail. Graham Richard and Jason Freier both answered to the effect that detailed discussions are ongoing in terms of naming rights and that further details couldn't be released because of the sensitivity of the negotiations. Freier noted that they were not far from an announcement on naming rights.

As far as the condo and retail sales, Freier noted that detailed, final plans were needed before putting commitments in ink from interested parties. He said final plans should be done in the next 45-60 days.

Fifteen of the ballpark suites are said to be accounted for by 32 companies and the 16th suite is reserved for day of game sales. A 10 year commitment of a suite was said to have a value of at least $220,000.

Candidate Update

Urban development
Link

"Plan-it Allen, a joint city-county comprehensive plan, was approved by Huntertown last week, marking the final community to approve the countywide land-use plan.

One of the tenets of the plan is to support development in urban areas on land already served by utilities and streets versus allowing further growth into the rural county. Both Fort Wayne mayoral candidates were asked about what the city should do to support this ideal."

"The best way to encourage urban development is to bring more jobs to the city’s center, Kelty said. With gas prices increasing, he said people will be more likely to live closer to where they work.

Kelty said he would like to create incentives to encourage investment in the city’s older areas. He declined to reveal specifics, saying he planned to announce his initiative closer to the election."

"Henry said he supports urban development projects, such as Renaissance Pointe and the North River developments. Renaissance Pointe is a new public-private housing development in southern Fort Wayne and North River is a conceptual project for development north of the river downtown.

Henry said promoting urban development helps maximize use of available land, which will help increase the tax base and lower tax bills for existing residents. He said promoting urban development also would curtail urban sprawl

Providing incentives, such as tax abatements on residential properties, could help spur more development in the city’s core, he said."

Kelty: Change development strategy
Link

"Republican mayoral candidate Matt Kelty called Thursday for an abrupt change in the way city government pursues redevelopment, proposing a temporary moratorium on the expansion of Tax Increment Finance districts or the commitment of funds from existing TIF districts to new projects."

"Kelty spoke to reporters and supporters at Jefferson Pointe, a location especially pertinent to his message. The TIF district created to finance infrastructure improvements at Jefferson Pointe has been stretched eastward along Jefferson Boulevard and now includes the Harrison Square project downtown. Property taxes generated by Jefferson Pointe will be used to pay off bonds issued to help build a Wizards baseball stadium, parking garage and other features of Harrison Square."

"Kelty emphasized that existing development agreements involving TIF districts, including Harrison Square, would not be affected under his proposal. "

"Democratic mayoral candidate Tom Henry said his Republican opponent Matt Kelty is misguided in his criticism of how Tax Increment Finance districts are used to promote development. “I understand where Matt is coming from,” Henry said. “Unfortunately, Matt doesn’t see the big picture.”"

"Rather than imposing a moratorium on the use of a successful economic-development tool, Henry said the city should continue exercising due diligence to ensure that TIF districts fund worthwhile projects."

Tax districts out of control: Kelty
Link

"Kelty said as mayor he would change the way the city uses tax increment finance districts. While he said they are a good tool for economic development, he said they have been misused and turned into a “development slush fund” with little oversight, a charge [Graham] Richard refutes."

"Richard said while people can disagree on tax policy, he said the tax district tool is important to entice businesses to the city. He said it helped bring numerous projects downtown, including Grand Wayne Center.

“To curtail the use of that will be to take away a very substantial and important tool that will leave us not very competitive with other communities and other states,” he said."

"Democratic mayoral nominee Tom Henry said he understood the concern about overusing the tax districts, and that the city’s current level is appropriate. To limit that tool in the future is “shortsighted” and he said the city should monitor how much the tool is used, but a moratorium is too extreme. Using revenues from the special district for Harrison Square helped bring millions in private investment without using any general property tax money, Henry said."

"Kelty also attacked the city’s use of the money to buy property for Harrison Square, saying the city did its dealings privately and without public oversight.

Richard said those accusations were a misrepresentation of the facts, as all purchases for the project were done according to state law. He said an expansion of a tax district requires several approvals, all of which are done at public meetings."

Pressing Forward

State board recommends Harrison Square bond be approved
Link

"The board of the Department of Local Government Finance has recommended by a 4-2 vote the $50 million bond lease for Harrison Square be approved.

The final decision rests with Sharon Musgrave, commissioner of the department. It was uncertain when that might come."

Harrison Square finances clear state board
Link

"The board recommended approval of the city’s $45.9 million bond lease to Department of Local Government Finance Commissioner Cheryl Musgrave, who has up to 90 days to make a final decision."

"“It is a once-in-a-lifetime opportunity for Fort Wayne,” said Fort Wayne City Councilman Sam Talarico Jr., R-at large. “It does not change the landscape for local taxpayers. We need a victory like this in Fort Wayne.”"

"Board member Dave Christian – one of the “no” votes – was concerned that the city had not locked up the Fort Wayne Wizards for the length of the bond. Instead, the Wizards have entered into a 20-year agreement to use the stadium, with two five-year extension options."

"Kalb said 70 percent of the city is against the project, which one commission member claimed to be unsubstantiated and unfounded."

"But Talarico conceded there have been at least three polls on the project, and there are always more opposed than in favor. He argued, though, that some polls included county residents who are unaffected and that the wording of some surveys was not precise."

State board OKs Harrison Square
Now, city awaits state official's final approval of project's financing
Link

"Greg Leatherman, deputy director of community development, said until final approval, the city won’t order items such as steel or concrete for the project, but will be able to continue demolition of properties on the project site and prepare the site for construction."

"The group was asking for a property tax backer that would give the city a lower interest rate, saving about $4 million, but had to prove to the board there were enough revenue sources to repay the bond so property taxes wouldn’t be used. Instead, the bond will be repaid with CRED, CEDIT and TIF money."

"A longtime opponent of the project, resident John Kalb, also made the trip to Indianapolis to address the board. He described what he saw as missteps by the city and outlined the lack of public support for the project. He asked the board to delay its vote for a month, but the board decided against his request."

Ink Now Drying

Harrison Square Private Sector Partners Express Support and Commitment to Development
Link (City)

"Mayor Graham Richard today was joined by representatives from Hardball Capital/Barry Real Estate and White Lodging Services/Acquest Realty to announce that all definitive agreements for the Harrison Square development have been signed. The private sector partners also expressed their support for the Harrison Square project and its importance to the community and region."

“Hardball Capital and Barry Real Estate are pleased to be part of a unique downtown experience for Fort Wayne,” said Jason Freier, Chief Executive Officer for Hardball Capital. “We are committed to having a positive community presence with the Fort Wayne Wizards and new, innovative retail and housing options for residents and visitors to enjoy.”

Developers sign Harrison Square agreements
Link

"[Deno] Yiankes along with Fort Wayne Mayor Graham Richard and others announced Friday the final agreements for Harrison Square were completed and signed. The Fort Wayne Redevelopment Commission will consider approving them Monday. Zoning changes for the project also are scheduled for consideration Monday by the Fort Wayne City Plan Commission. The City Council will consider approving the bond financing for the project Tuesday."

"In years 11 through 20, if the hotel is not seeing a 16 percent annual return, the city will continue paying $250,000 or the annual shortfall between the actual hotel cost and a 16 percent return each year, whichever is less.

If the return exceeds 16 percent, the city would receive 25 percent of the additional profit."

"Room rates are expected to range from $109 to $149 a night."

"Hardball Capital, the owner of the Fort Wayne Wizards and developer of the baseball stadium, retail and housing portions of Harrison Square, said there has been significant interest in stadium naming rights."

"Mayor Graham Richard said he still foresees construction to begin this fall, as scheduled, and reiterated his confidence in the developers to deliver the project as expected."

Latest HS Updates

Harrison Square Development Continues to Move Forward
http://www.cityoffortwayne.org/index.php?option=com_content&task=view&id=1281&Itemid=634

"“We continue to make great progress as we move forward on a signature downtown development for our community and region,” said Mayor Richard. “ Harrison Square will assist us in retaining and gaining jobs and bringing new business opportunities to the area. Harrison Square demonstrates sound fiscal management and the commitment of respected private investors that want to be key partners in revitalizing downtown. An investment in downtown is a positive investment for our community’s future.”"

Talks wrap up on Harrison Square pacts
Parking lot deal OK'd; hotel now hinges on new enclosed walkway
http://www.journalgazette.net/apps/pbcs.dll/article?AID=/20070717/LOCAL/707170304

"Fort Wayne completed months of negotiations Monday with developers for Harrison Square, but the final documents include new concessions including the creation of a walkway leading to Grand Wayne Center."

"The hotel agreement is contingent upon the city constructing an enclosed walkway from the hotel to Grand Wayne Center at the city’s cost. Deputy Mayor Mark Becker said the city is discussing options for building a walkway from the new hotel – on the southwest corner of Harrison Street and Jefferson Boulevard – to the Embassy Theatre. Patrons could then use the Embassy’s walkway to the convention center."

"Joe Kimmel, corporate counsel for the city, said the hotel numbers are still close to what was originally presented, and the bond would not have to be increased. He said the city could have demanded a $47 million hotel, but the amount of public subsidy to construct it would be unbearable."

Market Evolution

Hotel will have to buck trend
Link

"The new Courtyard by Marriott Hotel would provide the extra rooms adjacent to the Grand Wayne Center city officials say they need to attract larger events.

But unless convention business is enough to sustain both the new hotel and the Hilton Fort Wayne, the two facilities could find themselves desperately competing for business and other travelers."

"City officials said developers White Lodging Services and Acquest Realty are assuming occupancy rates well above 60 percent for the new facility. And given the importance of the hotel to the rest of Harrison Square, which includes a new baseball stadium, retail and housing, large numbers of rooms cannot sit unused."

"The new hotel would have to change the hotel occupancy trend in the Fort Wayne area. Occupancy rates on an annual basis have not risen above 52 percent since 2001, and for the most part have remained between 47 and 51 percent, according to data from Smith Travel Research Inc. Those figures include hotels in and around the city."

"Courtyard is considered Marriott’s upper-moderate-priced brand. It has limited services and is aimed primarily at business travelers, according to research by Reuters."

"Dan O’Connell, president and CEO of the Fort Wayne-Allen County Convention & Visitors Bureau, said the affordability of the hotel will be attractive. He said it is a fit for the Fort Wayne market, but the hotel will not be the same as many Courtyard by Marriott properties, which tend to be located in suburban markets or along interstates."

Rationalization

Courtyard OK
Link

"When Mayor Graham Richard said Harrison Square would have a higher-end Marriott brand, he was surely aiming higher than the Courtyard by Marriott announced last week. While disappointing to some, the moderately priced hotel geared toward business travelers may end up being the best fit after all."

"Harrison Square’s critics will take potshots at the selection of the Courtyard brand as being too low-end – just as they would have criticized a J.W. Marriott for being too high-end and a namesake Marriott because Fort Wayne already has one."

"As Richard and his team of advisers transition from Harrison Square concept to details, they must hold true to the overall concept of the development they have sold to the City Council and other government boards while being flexible enough to accommodate economic realities."

TIF Talk

Taxing districts' overuse debated
Taxpayers may be hit, but development touted
Link

"Some critics of the development question the increased use of special taxing districts because if they are overused, other property owners are forced to pay higher taxes for basic services. Even supporters of Harrison Square say while they are comfortable with the current amount of property in the districts, the city should be mindful how often it uses the incentive program."

"According to the city, taxes on $320.2 million will be collected by eight TIF districts this year. This equals about 3.3 percent of the total amount of taxable property in the city. Outside Fort Wayne – and not including New Haven – an additional $112.6 million worth of property is captured by TIF districts."

"People can’t just look at the TIF numbers in a vacuum, said Karen Goldner of the Fort Wayne Redevelopment Commission. It may be easy to say without TIFs, people would see a 3 percent reduction in property taxes, but the issue is far more complicated, she said."

"According to the city’s proposed bond terms for Harrison Square, it will set aside almost $42 million in taxes from Jefferson Pointe and almost $16 million in taxes from the hotel, condos and retail to finance the project."

"While critics of the tool say it raises property taxes for homeowners, there are other ways to look at the issue, said John Stafford, director of the Community Research Institute at Indiana University-Purdue University Fort Wayne. When looking at aggregate taxes, the amount of taxes saved by homestead credits dwarfs those saved by TIF districts or tax abatements, he said."

More On Hotel

(City of Fort Wayne)
Marriott Courtyard will anchor Harrison Square
Link

"Yogesh Parikh, a board member from Azar Inc., said a Courtyard hotel is a middle-tiered hotel and should work well downtown.

“I think that will be a good fit for the convention center,” he said.

Parikh said he now will support using Grand Wayne money to subsidize the hotel."

"Grand Wayne officials have long argued that another downtown hotel is needed to help the convention center reach its potential. Richard said the Courtyard will do just that."

"Because property taxes paid by the hotel are being used to finance other public portions of Harrison Square, the amount the hotel is worth directly affects how much money is available for the rest of the project. City leaders have said Harrison Square cannot happen without a hotel."

"John Knight, president of the Hospitality Association of Northeast Indiana, said a downtown Courtyard is good news for the city. While he said it caters to business clients, it is comfortable enough for leisure customers as well."

Courtyard Comin'

Full-Service, 250-Room Courtyard by Marriott Proposed for Harrison Square
Link (City of Fort Wayne)

“A Courtyard by Marriott will be a great asset for our community and region as we move forward with Harrison Square,” said Mayor Richard. “A successful privately financed hotel complements the overall Harrison Square development that will strengthen our community and enable us to retain and gain quality jobs and businesses.”

"Acquest and White support the overall Harrison Squaredevelopment and acknowledge the hotel, Grand Wayne Center, ballpark, condominiums, and retail will create a unique visitor and local destination place. "

250-room Courtyard by Marriott planned for Harrison Square
Link

"The six-story hotel with a unique urban design "will be a great asset for our community and region as we move forward with Harrison Square," Richard said in a statement."

Harrison Square will get Courtyard by Marriott
Link

"The Harrison Square hotel in downtown Fort Wayne will be a Courtyard by Marriott, city officials announced Thursday.The six-story hotel will have 250 rooms, a signature restaurant, bar, coffee shop, indoor pool, fitness center and room service during restaurant hours."

"Courtyard by Marriott hotels typically are not seen in a downtown area. The Harrison Square hotel will be designed to fit into an urban setting, city officials said. Its design also will not affect the rest of the Harrison Square, which includes a new baseball stadium, retail and restaurant space and condominiums, said Greg Leatherman, Fort Wayne deputy director of development."

Details of Downtown Hotel Revealed
Link

"These plans come just in time for the Allen County Convention and Tourism Board's meeting on Friday.

The board is expected to vote on approving $2.5 million for the Harrison Square project at that meeting. The city has asked the board to set aside $250,000 over ten years.

Last week the board put off voting on the proposal because it wanted more information on the hotel.

Now Mayor Graham Richard says all their questions should be answered. He hopes to get approval for the entire Harrison Square project from the plan commission by August.

That means final plans for the ballpark, hotel, condos, and retail space, are due to the plan commission no later than July 11."