FORT WAYNE, Ind. (WANE) – Fort Wayne City Council has approved funding for a planned Downtown hotel. Councilors approved a tax abatement and a loan from the city.
City Council voted seven to two to approve a nearly $2.5 million tax abatement, and a six to three vote approved a $750,000 CEDIT no interest loan from the city for the project. The loan will be paid in increments of $125,000 a year. Some Council members pointed out that money will be paid back through revenue on the property.
The 125-room hotel is the vision of Vera Bradley co-founder Barbara Bradley Baekgaard. She’s teaming up with Oregon-based Provenance Hotels for the project. It will be built at Main and Harrison streets. Construction is set to begin this summer with an opening date in 2019.