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Southern Park Mall interested in PACE upgrades
By Kalea Hall
BOARDMAN
Southern Park Mall once again is interested in using funds for a nearly $4 million roof and energy improvement project.
A representative from the Boardman mall met with the Western Reserve Port Authority last November for renewed discussion of the federal Property Assessed Clean Energy financing program, which allows businesses and property owners to acquire and repay funds for energy upgrades.
Mall representatives “have expressed interest in making this happen this year,” said Sarah V. Lown, economic- development manager for the port authority.
Southern Park Mall is a part of Columbus-headquartered WP Glimcher, which operates more than 120 enclosed regional malls and open-air lifestyle community centers.
WP Glimcher was established this year after Washington Prime Group Inc. and Glimcher Realty Trust merged, according to the WP Glimcher website. Washington Prime is a spinoff of Simon Property Group that was formed in May 2014. The Glimcher Realty Trust formerly was known as the Glimcher Co. — a shopping- center developer with more than 100 shopping centers established in its 56-year history.
Neither a representative from WP Glimcher nor a representative from Southern Park Mall could be reached to comment after repeated attempts.
In fall 2013, mall representatives had expressed interest in the PACE project. At that point, the former mall manager told The Vindicator the funds would be used to replace the roof over a common area and to update the interior lighting fixtures with more energy-efficient LED units.
The work was reportedly to begin in spring 2014, but never did.
PACE funds are paid back through assessments on property taxes. Lown described it as a loan with a relatively low interest rate.
“We think it is a really good instrument to help the companies bring down the maintenance cost,” Lown said.
Before the project takes place, Boardman Township trustees have to pass a resolution to set up an energy-improvement district. The port authority issues the funds to the mall, and the township collects the funds from the mall, township Administrator Jason Loree said.
“We are ready to go and as soon as we hear from the mall. We have to pass legislation and set up the district,” Loree said. “We like to see reinvestment in the township, and when you have a mall looking at infrastructure upgrades that is positive.”