East Allen Times:
FORT WAYNE – Fort Wayne officials and Indiana Michigan Power (I&M) announced Thursday they resolved issues surrounding the conclusion of the 35-year-old City Light lease.
The agreement must be approved by Fort Wayne City Council and the Indiana Utility Regulatory Commission.
The agreement would end ongoing disputes and litigation between the two parties and confirms I&M as the exclusive electric service provider for Fort Wayne customers, according to a news release from city officials. 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......
Friday, October 29, 2010
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