Monday, November 1, 2010

Open house for City Light Lease settlement

The City of Fort Wayne and Indiana Michigan Power (I&M) will host three open-house style public meetings to answer questions about the City Light Lease Settlement agreement announced on Oct. 28. The agreement resolves issues surrounding the conclusion of the 35-year-old City Light Lease and is subject to approval by Fort Wayne City Council and the Indiana Utility Regulatory Commission (IURC).

City and I&M officials will be at all three meetings to answer questions one-on-one from the public. The open-house style meetings will also have informational handouts. The meetings will be held in three areas across Fort Wayne:

Wednesday, Nov. 3, from 5:30-6:30 p.m.
City-County Building, One East Main Street

Monday, Nov. 8, from 6:30-7:30 p.m.
Public Safety Academy of Northeast Indiana, 7602 Patriot Crossing

Monday, Nov. 15, from 6:30-7:30 p.m.
Northeast Indiana Innovation Center, 3211 Stellhorn Road

The agreement, if approved, would end ongoing disputes and litigation between the City and I&M and confirms I&M as the exclusive electric service provider for Fort Wayne customers. Currently, a lawsuit over the matter is pending in Allen County Superior Court.

Under terms of the agreement, I&M would pay the City a total of $39.2 million over 15 years, with $5 million of that coming as an upfront payment. In exchange, the City relinquishes all claims to serve as the electricity supplier in the Fort Wayne area and transfers the remaining City Light property to I&M.

More information about the City Light Lease Settlement can be found on the Mayor’s website.

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