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Last updated: Fri. Dec. 07, 2012 - 04:15 pm EDT

Legacy announcement set for today

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FORT WAYNE – Mayor Tom Henry and Legacy Fort Wayne leaders are expected to announce Friday that several Legacy proposals are ready to be presented to City Council.

A news conference has been scheduled at 1 p.m. in the mayor’s office at Citizens Square to give a progress report and make the announcement, according to a statement issued Friday morning.

The city reached a $39.2 million settlement in October 2010 to sell its former electric utility and the rights to all its former customers to Indiana Michigan Power. In addition, the city has about $36 million in a trust account from leasing the utility to I&M for three decades.

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