TOLEDO, OH (WTOL) - On the heels of discussion during a committee hearing on Monday and a regular meeting on Tuesday, amendments to the proposal are in the works for the City of Toledo to acquire and tear down the vacant portions of the former NorthTowne Square Mall.
A vote could be taken by council on December 13.
The mayor's plan calls for the current ownership group to pay up on back taxes and outstanding city utility fees and code violations, and for the city to use brownfield revolving loan funds to demolish the vacant mall portions, leaving only the Super Fitness facility.
What many on council object to is the current owners having an option to buy back the property, with the city being able to terminate that option only if it can find a buyer willing to pay $55,000 per acre for the 69-acre site.
Councilman Steve Steel is worried that would result in demolition and nothing else:
"Stays in limbo and the current owners get to continue to speculate on it. Fundamentally we don't want the demolition just for demolition sake. We want the demolition so that area can be redeveloped."
The changes could include the city being able to break the option if a buyer is willing to pay fair market value.
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