Toledo officials working to position former mall property for redevelopment

City officials in Toledo are moving to position the former North Towne Square Mall property, which has been vacant for 16 years, for redevelopment to get the land “back into productive use,” The Toledo Blade reports. The Kapszukiewicz administration proposed ordinances to city council to “spur the site’s redevelopment,” including an ordinance that would authorize the sale of 11 acres in exchange for the release of cross-section easements. The other proposed ordinance would authorize tax-increment financing for the remaining 58 acres, so that increases in property taxes from future development would fund infrastructure improvements. For more, read the full article.

Economic Development, Financial Incentives, State Updates