Fort Wayne City Council approves 10-year tax abatement for downtown project

In a 5-2 vote Tuesday, the City Council approved a 10-year tax abatement for the $24.3 million, 143,000-square-foot development owned by Domo Development Co. LLC. Under the approved abatement, Cityscape Flats will pay no property taxes for 10 years or until the development reaches $3.5 million in tax savings.

Among the project’s main financiers is Tim Ash, CEO of Ash Brokerage, who is also building the Ash Skyline Plaza downtown. Ash contributed $20 million toward the Cityscape Flats project.