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Lorain County Port Authority adopts 2026 budget, includes plan to sell mall
Summary
The board unanimously approved the 2026 budget, which staff presented with the assumption that the authority will sell the mall in 2026; the assumption was discussed during the vote.
J. Miller presented the proposed 2026 budget package and told the board that a principal change from 2025 was the added assumption that the authority would sell the mall this year.
"I have added to the 2026 Budget that we will sell the mall this year," Miller said while explaining the variance between the 2025 budget and actuals.
B. Nazario moved to approve the 2026 budget; D. Gross seconded. The board voted unanimously to adopt the budget as presented. The approved budget incorporates the mall sale assumption, which board members discussed as part of the authority's financial planning; staff indicated they will bring forward sale-related items for future meetings when formal action is required.
