Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Fort Wayne council sets $30 million floor, tightens rules for Legacy Joint Funding
Summary
The Fort Wayne Common Council on Dec. 16 adopted a resolution formalizing the Legacy Joint Funding Program: it sets a $30,000,000 corpus, limits annual payout to approximately $2 million, tightens application and scoring rules, and requires supermajority approval and mayoral sign-off for requests by taxing entities.
The Fort Wayne Common Council unanimously approved a revision to the Legacy Joint Funding Program on Dec. 16, establishing a $30,000,000 corpus and tightening application, scoring and approval procedures for grants from the fund.
Sponsor Councilman Nathan Hartman told colleagues the change followed work by a task force and noted the fund’s history: about $80 million in contributions and roughly $25 million in investment returns over 15 years, leaving a current balance near $40 million. Under the new rules, the council set a corpus (floor) of $30,000,000 to preserve long-term growth while…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
