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Fashion Outlets sale brings extra funds to town

by jmaloni
Thu, Jul 21st 2011 02:55 pm

by Susan Mikula Campbell

The sale of Fashion Outlets of Niagara on Military Road will double the amount of money the Town of Niagara receives for construction at Veterans Memorial Park on Lockport Road.

Supervisor Steve Richards said Monday at the Town Board meeting that the new community host agreement he negotiated with Macerich Niagara LLC will mean $200,000 a year for 15 years instead of $100,000 currently received from the mall. In addition, $50,000 a year will go to charities that make services available to Town of Niagara residents.

The sale of Fashion Outlets to the California-based company was expected to be effective today, July 21. Mall management was unable to confirm details on Wednesday.

Richards said the community host agreement with Macerich, added to New York Power Authority funds, will ensure debt payment on the new community center to be built at the park "will not cost Town of Niagara taxpayers one cent."

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