YOUNGSTOWN, Ohio – At this writing, the status of a third attempt by the owner of Southern Park Mall to make a property tax payment remains uncertain.
A $437,834 payment by Kohan Retail Investment Group for the main parcel posted July 3, according to Mahoning County Treasurer Dan Yemma. That payment represents the $398,031 owed for the parcel plus a 10% penalty for the payment, which was due in March. The first payment was rejected because of insufficient funds, and the county was advised that the second payment would also be rejected. The third attempt used a different account.
The county also is still waiting for $81,550 in taxes and penalties owed for the other six parcels. Second-half taxes totaling $427,168 for all seven parcels are due Aug. 1.
Southern Park Mall Realty Holding LLC, a subsidiary of New York-based Kohan Retail, purchased the Boardman retail center in December from Washington Prime Group for $24.1 million.
The sale prompted concerns early among local officials, as Kohan has a spotty history, detailed by various media outlets, that includes properties in foreclosure, failure to pay taxes and utility bills and neglecting upkeep of its properties.
Kohan Retail’s reluctance to communicate – with township or Mahoning County officials or with the public via local media outlets – adds to concerns. Except for a July 4 interview with WFMJ-TV, Kohan Retail has been largely unresponsive to inquiries from local media.
Uncertainty over the tax payments means uncertainty for local governments, institutions and services those property taxes fund, including parks, libraries and programs serving senior citizens and children.
Southern Park Mall has been a fixture in the community since it opened in 1970, but changes in the retail landscape have been challenging. A few years ago, the mall invested $20 million in an expansion supported by a Mahoning County-approved 15-year, 40% real estate tax reduction.
It’s time for Kohan Retail representatives to come to the public and detail its plans for the property. And to get current on its taxes.
