WAUSAU, Wis. (WSAU) -- They’re still talking. That’s all Wausau city officials can say about their closed door discussions with CBL & Associates, the company that owns Wausau Center Mall.
The mall has been in decline, and earlier this year, they lost anchor store JC Penneys. CBL sought financial incentives and payment relief from the city, which owns the land the mall sits on. The city gave CBL a counter-offer to their proposal this past spring which includes rent forgiveness and money for redevelopment.
During the Economic Development Committee meeting Thursday, members discussed the apparent lack of progress in closed session. Economic Development Manager Megan Lawrence says they do have regular discussions with CBL, but since they don’t have a final deal, they can’t reveal the details. “It was continued contract negotiations on the development agreement that the city and CBL were in discussions with this spring, so you’ll see some revisions to that. We’re sort of working on a new deal and plan, and you’ll continue to see this on future agendas, with hopefully some firm announcements coming soon.”
Lawrence says CBL is working on something that would potentially occupy the empty anchor store’s space. “CBL’s just continuing to work on finalizing a lease for the JC Penney’s space, and that takes some time, so we are waiting on them to do some things, and there will be adjustments to that agreement.”
The two sides are continuing to negotiate. Lawrence says she’s optimistic they can finish a deal soon. “City staff will be talking to CBL again in the coming days, and you’ll probably see it again on an Economic Development agenda next month or in the coming weeks, and hopefully from that point, we’ll have a modified contact with a quick signature, and it will all be made public.”
CBL has not commented publicly about any of the Wausau Center Mall issues, and they have not said if the Wausau property is one of the malls they wish to sell. City officials agree they will do whatever they can to help revitalize the shopping center.