Grant to GM OK'd by city - Fort Wayne Journal Gazette
The Fort Wayne City Council on Tuesday unanimously approved a measure awarding the grant to the auto manufacturer, which is in the process of performing a $1. 2 billion upgrade to its Allen County truck assembly plant. The IEDC grant will go toward paying down existing debt the city incurred to pay for a backlog of street and road infrastructure projects, Roller said. The IEDC’s grant to the city will come from its Industrial Development Grant Fund. By helping pay down some of what the city owes for those projects, Roller said, the Industrial Development Grant Fund essentially frees up $5 million to give to General Motors. “We had to have $4 million of construction 70 percent completed by July 15, 2015. so, given all the construction projects that we have in the city, it was pretty easy for us to step forward and confirm that we have these projects and pictures and... There was the agreement between the state of Indiana and the city of Fort Wayne for the industrial grant for infrastructure, and then there’s the agreement that’s before you that is the agreement between the city of Fort Wayne and GM. ”. Roller... “If the city doesn’t receive any money, the city is under no obligation to pay GM,” she said. Source: www.journalgazette.net
