Mayor says Port Authority and developer have purchase agreement for mall; preliminary plan aims for $50 million mixed-use project

Mayor Brewaker told the Elyria City Council on June 1 that the mall property is now under a purchase agreement involving the Port Authority and IRG, with PREP funds named as a partner, and that preliminary plans call for residential, commercial and retail uses.

“We are talking about between the purchase and the development about a $50 million investment,” Brewaker said, adding the group is “anxious to get moving on this project” and the administration hopes the deal will close before the end of the year. He said city staff are working on related development agreements, including TIF provisions.

Law Director Derry warned the council the city’s progress is constrained by active litigation. “We are tied up in litigation in Lorain County Common Pleas Court over the appointment of the receiver,” Derry said, noting the city’s motion to reappoint the receiver has been pending since early May and that a separate federal case filed by the property owner also continues.

Brewaker and Derry said staff have met with prospective developers and the Port Authority, and that additional negotiations and legal steps remain before any sale can close. Council members asked about property maintenance and visibility for prospective buyers; Brewaker and staff said those issues are being discussed with the prospective purchasers and with the law director’s office.

What happens next: Derry said the common pleas court has not yet set further proceedings on the city’s motion; Brewaker said the administration will provide council with more-detailed redevelopment documents when they are available and that committee review is expected once materials are ready.