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.
The state’s approval allows the city to back the bond with property taxes. While Richard has promised no general property taxes will be used for the $120 million development, the backing serves as a kind of co-signor to reduce the city’s bond interest rate.
The downtown development includes a Courtyard by Marriott with parking garage, a combined condominium/retail building and a $30 million city-owned baseball stadium.
10 comments:
It's crying time for SYLVESTER! and Kalb
where ya at Kalb?
didn't you practically guarantee a denial by Musgrave?
No, Kalb is trying to garner up some money from people to fight this. Go ahead and spend your nest eggs. I'm sure the money you will spend on lawsuits will be far more than what you will ever see in tax increases.
I would just have loved to be a mouse in the room when Richard and Peters met with Ms. Musgrave - I would sure like to know what was promised to get her to OK this "Stupid Project"(formerly Boondoggle). This whole thing is begining to smell really rotten! Wewill see what a judge says. John B. Kalb
John, I have to give you credit for at least trying out a new phrase, thank you for that. But I think you can do better than "stupid project".
John-Please remember that there are us-plenty of us--who look forward to the completion of this project and think it is a step forward for our City. While you are entitled to your opinion, your obsession with demeaning and attempting to thwart this 'brillant project' is not only annoying--it is just a selfish attempt to prolong the division in this City. Grow up.
Anonymous-10/7/07 1:39AM: In my Webster's Dictionary of Synonyms I can't find "brillant" and "stupid" listed as such. Also, "selfishness" assumes some sort of gain for the selfish person - help me out, what sort of gain do you see for me in this controversy? Those that will gain in stopping this stupid project would be the majority of the citizens of our fair city.
We don't see how the illegal activities in our administration's actions on this stupid project can just be overlooked by the "plenty of you"! We do believe that some of these actions DO increase the division in our city - between those that are law abiding and those who have used illegal dealings to get what they desire. John B. Kalb
John Kalb has said he wants to live downtown, just not next to a baseball stadium. THAT is selfishness.
Mr. Kalb,
Nothing was done illegally and you really should stop saying that. I hate the way people throw lies out there like it affects no-one.
Anonymous 10/9/07 at 9:26:
I assume from your coimments that you are a judge in our Superior Court since you have declared that "nothing was done illegally. Why don't you wait and see what a real judge says about this? And truth also affects someone because they are guilty. At least I don't hide behind "anonymous" - Don't you think that affects someone - only the affected have no recourse. John B. Kalb
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