City Seeking State Funds For North Buffalo Street Project
October 4, 2016 at 6:38 p.m.
By David [email protected]
At a short Redevelopment Commission meeting Monday afternoon, City Planner Jeremy Skinner told the board the project was presented to the RDA in Fort Wayne the third week in September.
“We did present. They’ve taken it under advisement. They have some additional financial documentation they want to do on (developer Dave) Matthews, so we’re reaching out to him to get that documentation,” Skinner reported.
He said they should have an answer in October or November on whether the RDA will provide some funding for the project.
At the September meeting, the Warsaw Redevelopment Commission approved an amendment to an agreement with Matthews. The amendment was based on receiving Regional Cities funding totaling $3.5 million. If the redevelopment project doesn’t receive the funding, then the original economic development agreement is still in place.
The new agreement states that within the first four years, Matthews will expend $10.5 million on the mixed use housing project planned along Buffalo Street near Center lake. A portion of it could be residential housing project that could include a multi-use building where the old Indiana American Water Co. building stands.
The remaining $10.05 million of the total project will be spent over the next six years to finish whatever portions Matthews didn’t do in the first four years.
The second item Skinner reported to the Commission was that the city did finally get its recertification for its Certified Technology Park from the Indiana Economic Development Corporation.
“Apparently, it got lost in the shuffle. When I asked them where our money was at, it triggered them thinking, ‘maybe we should recertify that,’” Skinner said.
The recertification was extended by the IEDC for an additional four years, terminating on May 31, 2020.
A letter on the recertification to Skinner from Sarah E. Kamhi, IEDC deputy general counsel, in part, states, “The IEDC appreciates your efforts to support the growth of Indiana’s technology based economy and looks forward to continued collaboration with you in this regard.”
In other business, the Redevelopment Commission approved claims, including: $5,274.50, Faegre Baker Daniels, for legal services; $750, Regions Corp. Trust, for fees for the Thompson-Thrift 2011 bond; and $950, Huntington National Bank, for fees for the city hall bonds.
At a short Redevelopment Commission meeting Monday afternoon, City Planner Jeremy Skinner told the board the project was presented to the RDA in Fort Wayne the third week in September.
“We did present. They’ve taken it under advisement. They have some additional financial documentation they want to do on (developer Dave) Matthews, so we’re reaching out to him to get that documentation,” Skinner reported.
He said they should have an answer in October or November on whether the RDA will provide some funding for the project.
At the September meeting, the Warsaw Redevelopment Commission approved an amendment to an agreement with Matthews. The amendment was based on receiving Regional Cities funding totaling $3.5 million. If the redevelopment project doesn’t receive the funding, then the original economic development agreement is still in place.
The new agreement states that within the first four years, Matthews will expend $10.5 million on the mixed use housing project planned along Buffalo Street near Center lake. A portion of it could be residential housing project that could include a multi-use building where the old Indiana American Water Co. building stands.
The remaining $10.05 million of the total project will be spent over the next six years to finish whatever portions Matthews didn’t do in the first four years.
The second item Skinner reported to the Commission was that the city did finally get its recertification for its Certified Technology Park from the Indiana Economic Development Corporation.
“Apparently, it got lost in the shuffle. When I asked them where our money was at, it triggered them thinking, ‘maybe we should recertify that,’” Skinner said.
The recertification was extended by the IEDC for an additional four years, terminating on May 31, 2020.
A letter on the recertification to Skinner from Sarah E. Kamhi, IEDC deputy general counsel, in part, states, “The IEDC appreciates your efforts to support the growth of Indiana’s technology based economy and looks forward to continued collaboration with you in this regard.”
In other business, the Redevelopment Commission approved claims, including: $5,274.50, Faegre Baker Daniels, for legal services; $750, Regions Corp. Trust, for fees for the Thompson-Thrift 2011 bond; and $950, Huntington National Bank, for fees for the city hall bonds.
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