FORT WAYNE – After taking more than a year off, Fort Wayne has restarted discussions on how best to use 29 acres near the St. Marys River north of downtown.
Mayor Tom Henry on Monday said the city is in the middle of negotiating a new deal with the Rifkin family to acquire the property near OmniSource.
The property has remained vacant for years, and Henry said he believes it is time to pursue the development. While the city likely won’t be developing the property itself, Henry said the city is looking at ways to entice developers to use the land.
The city spent $25,000 for an 18-month option – extended from 12 months – to buy the land near OmniSource for $4.3 million. The option expired in June 2008, and city officials in 2009 said they were shelving any plans to buy the property because the depressed economy made it unlikely for the site to be developed.
Henry did not divulge details about the negotiations – or whether the city is looking again to buy it. He made his comments during a speech to the Downtown Rotary Club of Fort Wayne, which historically has served as a preview to his State of the City speech.
The mayor will give his more formal speech Wednesday at the Allen County Public Library.
Most of Monday’s speech focused on the accomplishments made by the city over the past year.
Henry cited the $39.2 million settlement with Indiana Michigan Power over the former electric utility, the new garbage and recycling contract that pays the city for recycled materials and allowed it to reduce rates by 24 cents per month and the new Courtyard by Marriott Hotel at Harrison Square.
Henry said the hotel development was “dead in the water” before a number of local banks stepped up to share the debt and risk to make the construction a reality.
He also discussed The Harrison retail/residential project that has yet to begin construction.
He said the city has been patient enough with the developer, but now it is time to make something happen.
“There will be something on that property in 2011,” Henry said. “We’ve waited too long.”
Henry said his formal State of the City address will provide a look back at the accomplishments of last year and the goals for 2011 and beyond.
