FORT WAYNE, Ind. (WANE) – On Tuesday night, the City of Fort Wayne came to terms with a price tag and timetable for Riverfront Phase IIB. The contract put before Fort Wayne City Council contracts Hagerman to complete the construction for no more than $28,298,533 by June 7, 2027. "A lot of private dollars will follow this. This isn't all just public money," said Geoff Paddock, 5th District Councilman. "We also know that some of the development that we see downtown ... are a result of what we're doing with riverfront development, so it's important that we continue that investment." This rendering shows what Riverfront Phase IIB could look like. (Photo provided by the City of Fort Wayne)This rendering shows what Riverfront Phase IIB could look like. (Photo provided by the City of Fort Wayne)This rendering shows what Riverfront Phase IIB could look like. (Photo provided by the City of Fort Wayne)This rendering shows what Riverfront Phase IIB could look like. (Photo provided by the City of Fort Wayne) Fort Wayne's Department of Parks and Recreation fielded nine bids before awarding the massive project to Hagerman. "We're excited about getting this out and getting construction started as soon as we possibly can knowing that we're going to be under construction for the next two years," said Fort Wayne Parks and Recreation Director Steve McDaniel. The second phase of Riverfront Development isn't just another park in the eyes of the city, it's the next step of fostering Fort Wayne's future. Promenade Park laid the foundations for a future that the city is still striving for. "I think we would all agree that this is more than just a park, this more than just an extension of a park," said Russ Jehl, 2nd District Councilman. "We need this phase really for a sense of completion for what's there. We have Headwaters on one side of the River and Promenade on the other... this brings it together, some harmony, some completion." "We can take this resource that we have turned our back on for so many years being the river itself, and create an asset out of that," said Chad Shaw, director of park planning and development with Fort Wayne Parks and Recreation. The contract between Hagerman and the City was given an 8-1 do pass recommendation on Tuesday with 1st District Councilman Paul Ensley being the sole no vote. It's expected that the contract will be finalized next Tuesday.