MASON CITY – Southbridge Mall’s owner has paid his late taxes owed to Cerro Gordo county, and the county announced it is dropping its lawsuit in pursuit of those funds.
According to a statement released this afternoon from Cerro Gordo County Treasurer Pat Wright:
Pat Wright, Treasurer and acting Auditor
The Cerro Gordo County Treasurer’s Office received payment in full of the real estate taxes and interest owed by Southbridge Mall Realty Holding, LLC for the delinquent real- estate taxes and interest on the buildings and improvements known locally as Southbridge Mall claimed in the civil action filed on September 20, 2008.The payment was received and processed on October 3, 2018. The total amount paid was $177,324.00.
The county’s attorneys have filed a dismissal of the civil action.
The current real escate taxes for Fiscal year 2017-2018 payable Fiscal Year 2018-2019 are unpaid. In the event these current real estate taxes remain unpaid, the parcels will be involved in the annual tax sale in June 2019.
Southbridge Mall Realty Holding, LLC, incorporated in Ohio but owned by Kohan Retail Investment Group in Great Neck, New York, (owned by Tehran Kohansieh AKA Mike Kohan or AKA Mike Kohen) was being sued by the Cerro Gordo county treasurer. Records show Southbridge Mall Realty Holding, LLC, owed tens-of-thousands of dollars in unpaid property taxes, even as the City of Mason City looks to install $12 million arena and $1+ million music pavilion in the structure. The future of those construction projects is up in the air at this time as the City struggles to find a developer for a downtown hotel.
