Discussions of a possible PILOT deal for Shoppingtown Mall
Thu, 13 Jan 2011 22:53:09 GMT —
The owner of Shoppingtown Mall is looking for a tax deal.
Macerich confirms it has been speaking with the Town of DeWitt about a Payment In Lieu Of Taxes agreement. A representative from Macerich, Sandy Graham, says, "Nothing is finalized, but we have been speaking with DeWitt to explore the benefits to the town and the property." In a pending court case, Shoppingtown is trying to get its current $60 million assessment cut in half.
There have been plans for a renovation at Shoppingtown Mall in the past. Just before the economy turned, Macerich has a plan for an extensive remodeling that would have opened up the Erie Boulevard side of the mall and bring in new shops. When asked about any future renovation plans, Graham said those would depend on "market demand and retail interest."
Graham did not have a timeline for either the PILOT discussions or a possible renovation plan.
Both Onondaga County and the Jamesville-DeWitt School District would also weigh in on any possible PILOT deal.