The Wheatfield Town Board has approved a settlement with the owner of the Summit Park Mall to reduce the mall's 1999-2000 assessment from $16,522,675 to $12,522,075.
The recent reduction in the property assessment should help business, Supervisor Timothy E. Demler said. "We're hoping this tax relief will help the mall," Demler said.
In 2000-2001, the assessment would be reduced to $9,522,075.
Demler said increased sales this holiday season at the troubled mall, owned by Connecticut Life Insurance Co., indicates it would "remain a retail outlet and would make a comeback."
"This (settlement) will serve the purpose to make it a viable community enterprise," he said.
In a related matter, WJJL Radio, which was burned out of its offices on Main Street in Niagara Falls two weeks ago, has set up temporary broadcasting facilities at the mall, Demler said.