What Should Fort Wayne Do With The Legacy Funds?

What would you do with $75 million? Would you invest in today or invest in tomorrow?

"They call it legacy, I call it money that belongs to the people" says Carl Jackson. Jackson is among the over 250, 000 people living in Fort Wayne. Jackson doesn't want to see his property taxes go up.

"We elected a board to protect the people of Fort Wayne" he told the Fort Wayne City Council last night.

The city is currently sitting on $75 million it got from a settlement with Indiana-Michigan Power. Jackson is urging city council to use that money to freeze property taxes. Three councilman agree, but others take a different view

Last year, a task force came up with categories they think the money should be used for.

Those are economic investment, riverfront development, youth sports, and creating a trust fund.  Economic investment is popular among many.

"We need a game changer" says former city councilman Tim Pape. Pape is among the over half a dozen that spoke out on the city's 2013 budget last night.

Mayor Henry's $140 million proposal includes around a $5-million property tax increase.

Henry says a tax hike is the best way to go, but several councilmen disagree saying the community can't afford a tax hike. John Crawford, Mitch Harper and Russ Jehl are instead recommending that the legacy money be used to balance the budget. It's a suggestion though not sitting well with Pape and others.

"We need to do something different" Pape says.

Pape says using the money for projects like Parkview Field will bring new folks to Fort Wayne, therefore expanding the tax base and in the long run lowering taxes.

City council will vote on the 2013 budget on October 23. The following week, Henry will meet with council to discuss the legacy funds.