Business & Tech

City Council Approves Portage Crossing Land Deal

The amended contract was passed 9-2 by Cuyahoga Falls City Council members Monday night.

Cuyahoga Falls City Council passed an amended contract 9-2 to sell the former State Road Shopping Center to developer Stark Enterprises for $3.7 million. However, under the deal, Stark won't be required to pay the seven-figure tab and will, in essence, spend nothing to acquire the 25-acre parcel. 

At-large councilwomen Carrie Snyder and Carol Klinger cast the dissenting votes.

The land deal will likely be closed by June 30. 

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"I want to reject this latest offer brought before us but the administration has told us that without these latest incentives the developer will walk away," said Council President Don Walters (Ward 6) at Monday night's meeting reports the Falls News-Press . "In my heart I don't believe that to be true, but it is not within my power to gamble with the taxpayers' money ... I am not at all happy that we have been backed into a corner."

A Giant Eagle and 10-screen Cinemark movie theatre will anchor Portage Crossing. 

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Best Cuts, Fashion Nails and Pet Supplies Plus have officially signed onto the project, according to Stark Enterprises COO Steve Rubin.

Aladdin's Eatery, Chipotle and Huntington Bank have signed letters of intent, meaning negotiations have commenced and lease documents are being drawn up, said Rubin. 

There is also at least eight yet-to-be-named businesses or restaurants in negotiations to lease space.

However, Rubin noted B Spot and Panera had initially signed letters of intent, but have since "backed off" from the project. 

Menchie's was not on the list of signed or prospective tenants, but the frozen yogurt franchise intends to add a location at Portage Crossing, the Akron Beacon Journal reports

If all goes as planned, Rubin said Stark could break ground on the project by this August.


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