August 6, 2014 - Mayor Tom Henry today announced his administration has developed a review process to enhance the City’s Legacy initiative.
Under the Legacy review process, a seven-member committee will be responsible for reviewing requests for Legacy funding. The committee will be comprised of three members of Mayor Henry’s administration, two members of City Council, and two citizen members (one selected by the Mayor and one selected by City Council).
In addition to the Mayor’s office and City Council making requests for Legacy funding, the establishment of the review process will allow private and non-profit entities the opportunity to apply for Legacy funding.
Proposals will be evaluated based on the guiding principles set forth in the original Legacy ordinance and the subsequent recommendations made by the Legacy Task Force and Legacy Champion Teams. Committee members will also be given the flexibility to consider unique opportunities that may emerge. The committee will provide recommendations to the Mayor and City Council on which proposals meet the criteria to be considered for Legacy funding.
At the City Council meeting on Tuesday, Aug. 12, a resolution will be introduced requesting the implementation of the review process. The resolution will be discussed on Tuesday, Aug. 19, with possible final passage on Tuesday, Aug. 26.
“Legacy is an important part of the unprecedented momentum we’re seeing in Fort Wayne. Being able to invest in projects that set us apart from other communities makes our City a leader in economic development, job growth, great neighborhoods, and an excellent quality of life,” said Mayor Henry. “The guidelines we’ve updated continue our commitment to ensuring that the Legacy fund is a valued community asset.”
Legacy funds come from two sources: the City Light Lease Settlement reached between the City of Fort Wayne and Indiana Michigan Power; and the Fort Wayne Community Trust, established by the City over 30 years ago using a portion of the annual Light Lease payments. The funds are designed to provide catalytic investment, leverage additional resources, and directly benefit residents of Fort Wayne.
Highlights of Legacy projects:
*Downtown Riverfront Study – in process
*Ewing Street/Fairfield Avenue conversion to two-way streets with a roundabout at Wells and Superior streets – construction is underway
*McMillen Park Community Center – opened in June
*Youth Sports Study – completed
*Lighting of Wells Street Bridge – completed
*Neighborhood infrastructure investments – in process
*Indiana Tech Academic Center – completed
*University of Saint Francis renovation of two existing downtown buildings for higher education offerings – in process
*Parking garage for Ash Skyline Plaza/Skyline Terrace project – construction is underway
The current financial report for Legacy:
*Funds available year-end 2013 - $51.7 million
*Future revenues - $29.3 million
*Appropriations - $25 million
*Increase in market share - $48.4 million
*Anticipated funds available year-end 2025 - $101.9 million