Construction of a facility that will employ at least 100 people to turn food waste into chicken feed could start this spring. The Fort Wayne City Council preliminarily approved an ordinance, 7-2, allowing Do Good Foods to use the city’s bonding power to finance the project with $25 million more in Indiana Economic Development Solid Waste Facility revenue bonds. Do Good Foods can borrow up to $190 million through the bonds, Starkey said.
Bond attorney Richard Starkey said with this financing the company plans to break ground in May and outfit a shell building at 8645 Aviation Drive in about 18 to 24 months. Councilman Russ Jehl, R-2nd, said the city and residents aren’t liable for repayment of the bonds. Do Good Foods Fort Wayne LLC is responsible for the debt but is using the city’s bond standing to get a lower interest rate. “And we get the jobs,” Jehl said. “I wish they were all this easy.”
He called Do Good innovative and a nice economic development for Fort Wayne. Jehl also confirmed during the meeting that the company paid all legal fees. This was the third time the council had seen the paperwork, including a document of more than 200 pages, he said. The company, founded by brothers Justin and Matt Kamine of Bedminster, New Jersey, announced plans to come to Fort Wayne in June. The business will go into a shell building on Aviation Drive, which the business can renovate to its needs.