Mall help may be on the way
City and county officials express tentative support for tax breaks that could revive Mount Berry Mall.
Rome and Floyd County officials hope to decide within a month if they’ll create a tax allocation district around Mount Berry Mall. Improvements made within a TAD are eligible for tax breaks and Hull Property Group has been seeking the designation since August 2016.
“We want to help Hull save the mall or it will be an albatross around our necks forever,” County Commissioner Wright Bagby said during a joint oversight committee meeting this week.
At issue, however, is the size of the proposed TAD. It would take in 14 parcels on both sides of U.S. 27, including undeveloped land between the mall and the Rome Tennis Center at Berry College.
“That’s probably the second-best land in Floyd County; where we think we’ll get our greatest return,” County Commissioner Larry Maxey noted.
City Commissioner Evie McNiece agreed, saying TADs are incentive tools for underdeveloped
or blighted properties.
“It’s only been a year since the tennis center has been there, showing what it can do,” McNiece said. “I don’t think it fits the definition.”
Under a TAD, the governments agree to forego tax increases because of improvements on the property, for a set period of time. In exchange, the developers agree to funnel the savings back into improving the property.
Hull is proposing to demolish the old Sears part of the mall, near the tennis center end of the tract, to create four outparcels for restaurants. It’s also planning to build a connection to the tennis center road.
City Manager Sammy Rich said it’s a good plan, but the company contends it needs TAD financing to move forward. Hull bought the 1980s-era
Walnut Square Mall in Dalton in December and Rich said they’d like to update both distressed properties at the same time.
“They call weekly,” Rich told the committee members. “They’re still very interested.”
He said Rome’s Redevelopment Committee could act as “the gatekeeper,” with the power to approve or reject TAD financing for proposed projects.
Officials expressed caution, however, as they continued to debate the issue.
“The tennis center is one of the most exciting areas in Rome and Floyd County,” Mayor Jamie Doss said, drawing nods of approval.
“But the mall is not, so
we want to help them,” County Commission Chair Rhonda Wallace said.
The group appeared to support Wallace’s argument that the TAD should not contain
residential properties and some of the land near the tennis center also should come out. Rich said he would work with the landowners, including Berry College and Pinnacle Partners, on shrinking the footprint of the district.
The joint committee is expected to get a revised plan at its next meeting, tentatively set for Sept. 5.