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Summit fiscal chief will ask prosecutor to take swift action
By Rick Armon
Beacon Journal staff writer
Published on Tuesday, Nov 18, 2008
Rolling Acres mall is headed for foreclosure.
Summit County Fiscal Officer John Donofrio said Monday that he will ask the county prosecutor to pursue an immediate foreclosure against property owner Invest Commercial LLC.
The Beverly Hills, Calif., company owes about $269,000 in county taxes.
''It's just sad what's happening out there,'' Donofrio said about the mall's decline.
The Akron shopping center — which recently was closed with the exception of anchor stores Sears and J.C. Penney Outlet — was included in a bulk tax lien sale last week in an attempt by the county to collect the unpaid taxes.
But Xspand, the New Jersey company that bought the bulk liens, asked that the lien for the mall be removed from the sale. Xspand was the only bidder.
The lien apparently wasn't considered a wise investment, county officials said.
Investors buy tax liens in bulk and then attempt to collect the debt, with interest. They don't own the property. Meanwhile, property owners who fail to pay the investor face possible foreclosure.
Xspand declined to comment.
Rolling Acres has been for sale since November 2006 with an asking price of $4.9 million. Michael Mirharooni, president and founder of Invest Commercial, purchased the mall for $1.7 million in July 2006.
Tim Dimoff, president of SACS Consulting, who has been managing the mall and negotiating for a sale for years, said he was unaware of the foreclosure issue. But he added that he is still trying to sell the property.
Rolling Acres, on Romig Road in southwestern Akron, opened in August 1975.
Rick Armon can be reached at 330-996-3569 or rarmon@thebeaconjournal.com.
Rolling Acres mall is headed for foreclosure.
Get the full article here.
Comments
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Posted 08:24 AM, 11/18/2008
very sad
Wadsworth, OH
Posted 08:30 AM, 11/18/2008
There is no reason to save Rolling Acres. The entire Romig Road corridor needs to be bulldozed and allowed to revert back to fields.
Posted 08:32 AM, 11/18/2008
The city should take this over and build 9 more holes to link up with Mud Run.
Posted 08:54 AM, 11/18/2008
Turn it into a jail...That way the police won;t have travel far to make a deposit
Posted 09:48 AM, 11/18/2008
This mall should have been closed years ago. We all know what lead to the mall's down fall. The city of Akron needs to do some postive with the land.
Posted 09:58 AM, 11/18/2008
The punks and thugs finished the job there,now on to Chapel Hill!
Columbus, OH
Posted 10:00 AM, 11/18/2008
Someone needs to buy that mall! They took away everything on Roming Road it's so empty! They spend their money and build new things everywhere else but in the black community! They may even make more money on Roming Road anyway they are just STUPID to not think that way. I wish I had the money I would make a killing.
Posted 10:05 AM, 11/18/2008
Chapel Hill has a rough fight. They need to get their parking lots lit better and patrols outside.
They got a curfew thing going to try and stop the thugs but the bums stay outside.
Posted 10:10 AM, 11/18/2008
They should put a wall on the north end of Roming RD and reopen the mall.
Akron, Oh
Posted 10:16 AM, 11/18/2008
They need to build it up again. Maybe a super Walmart or something. There is nothing for us anymore in this area. Maybe a little more police attention would help. This was quite the happening place at one time. With a little time, money and effort, it could be again.
Posted 10:25 AM, 11/18/2008
Uggh...here we go again. Someone else suggesting something stupid like a Walmart Supercenter.
Do any of you people who suggest such STUPID and CLEARLY IGNORANT stuff pay attention at all?? What in the hell makes you think that a Walmart Supercenter would "save" this area? Where's your proof (and substantiated proof)? Where's any indication that Walmart has an interest? Do some of you even have the most basic of economic-sense at all???
The City of Akron awhile ago has deemed the entire Rolling Acres' area NO LONGER VIABLE FOR RETAIL!!!! When a city makes a declaration as such, no major retailer in their right mind would even give it a thought.
The ignorance at times when a story about Rolling Acres pops up is just as pathetic as the downfall of RAM.
Tallmadge, OH
Posted 10:57 AM, 11/18/2008
As long as their are black hoodrats in the Rolling Acres area, there is no hope !!!
Posted 11:01 AM, 11/18/2008
This is in response to Yvette's comments ... The main reason that Rolling Acres mall died was because of violence, being in a dangerous location, yes, the black community played a very large part of its demise.. You said you could "make a killing" there, well, WRONG choice of words there. I watched Handy Andy, Forest City, Toy' s R us, Children's Palace, etc. all close down ...The stupid investors ( as you said they are) needed to leave that location, they moved on to more safe places to survive in their businesses. I loved going to the mall back in the 1980's, it was literally shoulder to shoulder shopping then. The thugs roamed the malls, with no money of their own in their pockets, causing trouble and wreaking havoc. Bill Cosby is absolutely right in regards to today's society. The blacks need to get out of crime, or they will face the prisons or cemeteries.That's all I must say now.
Posted 11:05 AM, 11/18/2008
They need to get a Circuit City in there!
Posted 01:09 PM, 11/18/2008
''It's just sad what's happening out there,'' Donofrio said about the mall's decline.
What does Mr. Donofrio mean ? I thought he said this kind of problem was occuring in the Florida or California real estate market, while in Summit Co. things were different. Looks like he was wrong. Too bad for Summit County voters he would not admit to this type of problem before the election. Seems like his opposition, Bill Conte, knew what he was talking about all along.
Oh, and by the way ABJ, did Mrs. Donofrio ever figure out why Bill Conte's name change on the ballot never took place? As a Summit Co. voter, I hope the ABJ will look for some accountablility in this matter.
Ravenna, OH
Posted 01:17 PM, 11/18/2008
Yvette, who are you kidding. The black community is what killed that mall. Give me one example where investing in the black community has been successful?
Copley, OH
Posted 01:59 PM, 11/18/2008
Donofrio acted on this AFTER the election. Coincidence? I think not! Hmmmm
akron, oh
Posted 03:17 PM, 11/18/2008
Rolling Acres was killed by shoplifting and thugs just like Randall Park mall. No businessperson in their right mind would open so much as a doughnut shop there today.
Posted 04:21 PM, 11/18/2008
It was purchased in July 2006 for $1.7 million and by November the buyer markets it at $4.6 million. Does anyone wonder why they can't sell it? I'm suprised the city or the county haven't gone in and offered $5.2 million of our money, with other incentives.
Posted 04:28 PM, 11/18/2008
Even when Rolling Acres was labeled as a nice mall, it was still a dive. The place has been mostly empty for many years. Why? Because the whole area is a black eye on the community.
akron, oh
Posted 05:43 PM, 11/18/2008
to Barky dog--are you so out of the loop or don't you read all the of the news? Circuit City went under also or was your "comment" a joke?
Akron's downward sprial ~ Rips my Heart out , oh
Posted 05:49 PM, 11/18/2008
TOP 10 USES FOR THE MALL BUILDING
1. CSB could use it for their visiting center.
2. Summit County could use it for a bigger jail to house the Thieves and thugs that helped put it under.As well a Police station to employ the much needed new officers.
3. It could be used to shelter the Homeless.
4. It could be used as a medical facility like Summa keeps building.
5. It could be used as a Prison, so the thugs could get a daily view of their home to come if they don't change their ways.
6. It could be used as a training center/Head quarters for the SWAT TEAM, FBI, Drug enforcement and such.
7.It could be used for a teenage pregnancy school and home.
8. It could be used for a animal shelter.
9. It could be used for a Scared Straight Program/Headquarters for our youth.
10. It could be used as a burial vault for criminals that die in prison and the family can't/won't pay for burial. Throw them in, cover them with cement and in a few years when it is full, bulldoze it under and build a OHIO WELCOMING CENTER with the SLOGAN BEING " Ohio Home of under ground criminals"
Whatever right?
Posted 06:40 PM, 11/18/2008
My family and I shop at the JC Penny outlet. Is it really that dangerous over there?
Posted 07:50 PM, 11/18/2008
I remember as a kid when that mall was first opened. Too bad the area went under. I haven't been back to Ohio since the early 90's...
Akron's downward sprial ~ Rips my Heart out , oh
Posted 08:34 PM, 11/18/2008
Dear Jen,
I hope you take a gun, lots of ammo and body guards. Seriously; Yes Jen this is not a safe area at all, so please use caution when your there and don't go alone.Do not go at night (not that day light means anything to a thug anyway) and be aware of your surroundings. Don't carry a purse. I'm sure You know the routine. I pray for your safety when your there.
Posted 07:17 AM, 11/19/2008
All of you bigots kill me with your stupid comments about Those of us who are descendants of The Original Man! Rolling Acres was the best mall in the Akron area for years! Since they've been open, i've never been robbed there, neither has anyone i know! What group of people has committed heinous crimes than the caucasian? Certainly not my Dark-Skinned Brothers and Sisters!
KICK ROCKS
Posted 07:57 AM, 11/19/2008
Rick...are you serious you didn't know what Mr. Donofrio meant??? Gimme a break.
Columbus, OH
Posted 09:17 AM, 11/19/2008
I've noticed how all of you seem to be ANGRY!! VERY FUNNY! There is violence everywhere it doesn't matter where you are! OLD MAN GRUMP "hoodrats" we are African Americans thank you very much, why is it that black people have so many harsh names, let be respectful here okay! Krista chick please at Chapel Hill Mall they have security all through that darn mall and there is violence there as well. "Killing" yes what a choice of word I'm glad YOU PEOPLE like that and now I'm a STAR! LOL Craig and Jack, and the rest of you! My race doesn't have anything to do with this that shows how this society is messed up! OBAMA LOL LOL LOL LOL The GODS are coming BACK and it was us black that built some much in this WORLD! It was US that BUILT the PRYMIDS, It was US that BUILT the WHITE HOUSE, It was US that GOD created, IT was US who VOTED for OBAMA, and that you to the woman of your race loving are BLACK MEN to create more of US! LOL CHANGE HAS COME PEOPLE LOL! You guys are so stupid to take this matter so serious!
Columbus, OH
Posted 09:24 AM, 11/19/2008
THIS IS A JOKE!!!
Posted 07:42 PM, 11/23/2008
Craig,
You are very ignorant to make blanket rhetorical statements like that... Magic Johnson has made substantial investments in black communities all across America that have been extremely successful. Please don't forget the fact that there is more white trash in Akron than black trash.
