TOLEDO, OH (WTOL) – Legislation has been proposed in an effort to remove a vacant shopping center from the landscape of the city of Toledo.
Toledo City Council's Economic Development Committee meets Monday at 1:30 p.m. to review the plan released last week by Mayor Mike Bell for the city to acquire and tear down the vacant portions of the former NorthTowne Square Mall.
The former mall is now an eyesore along Alexis Road and is viewed as a major roadblock for development in the area. The mayor is proposing the city taking control of 69 acres and making it ready for redevelopment without the use of any money from the general fund. The plan also calls for the Super Fitness facility to remain there and allow the health and fitness complex to stay in business.
The council will consider the city taking possession of the mall property with the current ownership group paying the city $30,000 for outstanding code violations, $40,000 in past due utility fees, and getting property taxes current. The city would then use a Brownfield Revolving Loan Fund to pay for tearing down the vacant portions of the mall and then get that money back through the sale of the property.
The current owners would have an option to buy back the property.
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