City Council moves forward with plans to redevelop Carnation City Mall
ALLIANCE The city is moving forward with plans to redevelop Carnation City Mall.
Alliance intends to put the mall property, located at 2500 W. State St., into a tax incremental financing program (TIF) that would exempt the property owners from 100% of real property taxes for 30 years.
Under the proposal, the city would take temporary ownership of the property before transferring it to Fairmount Properties, a Cleveland-based developer that plans to redevelop the mall into a supercenter retail facility.
City Council passed an ordinance Tuesday to execute an agreement between the city and Marlington Local School District for the district to receive an amount equal to 25% of what it would have received from property taxes if not for the TIF program.