American Mall Demolition will save Cafaro Money - Hometownstations.com-WLIO- Lima, OH News Weather Sports

American Mall Demolition will save Cafaro Money

Posted: Updated:

The Cafaro Company of Youngstown has again promised that the shell that was once the American Mall will be coming down soon.

Your News Now reporting that last week.

When that happens it will mean more money stays in Cafaro's pocket and less tax money for American Township.

Allen County Auditor Rhonda Eddy Stienecker says the property will be re-evaluated once the property becomes a vacant lot.

Currently valued at nearly 1.3 million dollars, Cafaro pays about 24-thousand dollars annually in taxes and assessments. That number will drop to 19-thousand for an empty lot.

American Township Trustee Paul Basinger says you never want to lose tax dollars but clearing the land after all these years is more important.

Cafaro has said it plans on redeveloping the land, using it for professional office space and retail outlets, which they say sometimes takes years.

Local economic development officials say they have not yet been contacted by Cafaro officials about future development on the site.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WLIO. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.