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Forest Park council approves development agreement to demolish Forest Fair Mall
Summary
City Council adopted a development agreement enabling demolition and phased redevelopment of Forest Fair Mall; the developer will retire existing bonds and construct light‑industrial buildings to enable future broader redevelopment.
The Forest Park City Council on May 19 adopted a development agreement authorizing steps to demolish and redevelop the Forest Fair Mall site.
The council approved Resolution 19‑2025 by a 7‑0 vote. The mayor made the motion to adopt the resolution and it was seconded; the roll call recorded unanimous approval.
In presenting the motion, the mayor described the agreement as setting “the terms and conditions in which the city and the developer will begin to process, the process to demolish and redevelop Forest Fair Mall.” The agreement requires the developer to pay off existing bonds on the property, remove the existing mall structures and build light‑industrial facilities intended to position the site for future phases of mixed‑use or commercial redevelopment.
City staff said the demolition and initial light‑industrial construction are intended to stabilize the site, retire outstanding debt, and create conditions that make later comprehensive redevelopment feasible. The resolution and the development agreement provide the legal framework for the city and developer to move forward with permitting, site demolition, bond payoff and reconstruction steps identified in the agreement.
The council did not disclose specific purchase price or incentive amounts in open session; the manager’s report earlier in the meeting said staff had reviewed the development agreement and related documents. The mayor said the developer has agreed to retire the existing bonds, demolish the mall, and construct state‑of‑the‑art light industrial buildings to allow future redevelopment of the entire site.
No additional appropriations or final financing documents were adopted at the meeting; the resolution authorizes execution of the development agreement and directs city staff to proceed with the tasks and processes identified in that agreement. Council members asked staff to continue to brief the council on schedule, financing, demolition timelines and community impacts as the project proceeds.
What’s next: staff will coordinate implementation steps outlined in the development agreement, including bond payoff and demolition permitting. Council members will receive periodic updates as the project advances and specific financing or incentive items are returned for formal approval.
