MASON CITY — The Cerro Gordo County Treasurer says the delinquent real estate tax bill due today for Southbridge Mall has been paid.
Treasurer Patricia Wright says her office has received payment in full of the real estate taxes and interest owed by Southbridge Mall Realty Holding LLC for the delinquent real estate taxes and interest on the buildings and improvements to the mall. Wright says the $150,254 payment was processed today, which included fees and damages due on three dishonored checks.
Back on November 26th, Wright said her office received notice that three of four checks issued to pay back taxes were returned for non-sufficient funds and that her office would re-file a civil action that had previously been dismissed.
Mason City’s city administrator Aaron Burnett told the City Council last week that Wright and the mall owner entered into an agreement saying that the outstanding bill had to be paid by yesterday or the property would go to a tax sale.
Wright in a written statement issued this morning says while the back real estate tax bill has now been paid, the current taxes for Fiscal Year 2017-18 payable in Fiscal Year 2018-19 are unpaid. She says if those remain unpaid as of June 14th of next year, the parcels will be listed on the annual tax sale on June 17th.
The repurposing of Southbridge Mall is one of the key parts of the River City Renaissance project, with the conversion of the former JC Penney location into a multi-purpose arena and the construction of an indoor-outdoor performing arts pavilion space at the mall’s north end.