Mentor City Council voted for a series of resolutions Thursday that will allow Great Lakes Mall to make more than $3 million worth of energy-efficient upgrades.
And what does City Council have to do with the mall, you may ask.
Two years ago, Council approved an Energy Special Improvement District that included the mall. This means the mall can pay back projects that have to due with energy efficiency by special assessment.
Now, the mall intends to replace its roof and roof-mounted HVAC units, which qualifies.
The Lake County Port Authority will issue $3.375 million in bonds to Simon Property Group, which owns the Mentor mall, to fund the project.
Simon will then pay back the principal with 6-percent interest over the next 10 years.
The city needed to vote on a resolution because it established the Energy Special Improvement District.