Hotel comes up for tax break
City Council soon to look at final Harrison Square enticement
Link (JG)

“Greg Leatherman, executive director of redevelopment, said he plans to take the tax break request to the council as soon as possible, although it was not included in ordinances to be introduced Tuesday. That would mean it would likely be introduced May 27 with a public hearing on the abatement June 10.

The Fort Wayne Redevelopment Commission will discuss the abatement Monday, although its approval hinges essentially on whether the tax break would hurt the city’s ability to pay for the Harrison Square project. Leatherman said the abatement was already calculated into the project’s financing.”

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“The incentives included essentially free land, a $6 million state tax credit, an adjoining parking garage built by the city, $1 million from the city to improve infrastructure in the area, up to $5 million over 20 years in cash from the city and county and a $1 million walkway from the hotel to the Embassy Theatre financed by the city.

Leatherman did not have the amount the tax break would save the company over the length of the abatement.

In February, the council voted 8-1 to abate taxes for the $20.3 million condominium/retail piece of Harrison Square, known as The Harrison.”

Related:
Abatement filings (H2) – you can see PDFs of the actual abatement filings for the condo/retail and hotel