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Light Lease Gets The Green Light.

By Maureen Mespell
By Cara Shirley

Light Lease Gets The Green Light.

November 23, 2010 Updated Nov 23, 2010 at 10:27 PM EDT

FORT WAYNE, Ind. (Indiana's NewsCenter) -- Fort Wayne city council unanimously approved the agreement with Indiana Michigan power. Under the agreement, all litigation from both parties will be dropped, and I & M will pay Fort Wayne 39.2 million dollars over the next 15 years. 5 million dollars will come as an upfront payment.

Fort Wayne City Council member Tom Didier said, “It was like the perfect storm at first because it started out a little stormy with the Mayor coming across and saying here's what we're going to do and I think overall it was somewhat of a gamble, but it worked out for the citizens of Fort Wayne.”

Council members have not yet decided how this money will be spent.



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