sdarby

www.feldmanmall.com We are looking for some form of a light and a main mall entrance that you can get in and out of without fearing for your life. Back when the mall was originally developed some 40 years ago an entrance with no light was acceptable. We would like to modernize our egress in and out of the property to today's standards. If you would like to see the transformations of the properties that we have already done you can go to our website at www.Feldmanmall.com

With Dillard's gone there are other anchors out there that may bring much more value to the mall, if that happens it will begin to add value to the mall and the surrounding area. We have explored the entertainment concept and will continue to look at that as these moves forward. The odds for Tallahassee to get one of the following concepts are possible. We do have relationships with the tenants that I mentioned and they are currently at out centers across the country. From our leasing staff they continue to build on existing relationships and will be speaking with those possible tenants about Tallahassee.

I appreciate the welcome. We are looking at different retailers. The mall has an opportunity to hit one out of the park and that is the goal we are looking to accomplish. It will definitely help to have community and local government support to make that happen

We are confident with community and government support that we can find an anchor. We have been contacting several companies for the space and there has been some interest but it is quite a competitive market. We do want to improve the property but we do not want to put the last dollar in a bad investment, that know one cares if it succeeds or fails.

I had heard they were relocating some of the staff to the other store. I do not know what the statuses of the others are. I would think it would be difficult to keep help over the next couple of months and the holiday season knowing you won't have a job next year? We have looked at the entertainment concept for Tallahassee mall. We are looking at all of the different alternatives for the mall. Loosing an anchor makes it quite difficult to recruit any tenants until they feel we can stabilize the future of the center. That is why we feel that local community and government support is crucial to that stabilization. If a future tenant knows that the community and local government do not want to see the mall fail it will ease the nervousness they may have about leasing space from us. Throughout the other properties in our portfolio we have added restaurants and entertainment at our centers with tenants such as PF Changs, Cheesecake Factory, Sega Game works, Melting Pot, and many others. I am not sure of the weight limit on the euro bungee but I think I would loose my lunch or pull something bad if I had to do it!!

First of all thank you for your questions. I will try and answer them as they were drafted in your document. What we are saying is that without support from our local government it will be difficult to solicit a new anchor tenant as well as beginning a successful redevelopment with the mall. The mall is not contributing to the decline of the area, but as history has shown throughout communities in the country, once a mall fails it typically will take the surrounding area to some form of decline with it. As was stated during the county commissioner meeting there is approximately 3 million square feet of retail coming on-line within the next 2 to 3 years. If the N. Monroe corridor does not improve traffic and appearance we feel that there will be a shift to the newer retail developments, which will begin the decline of the N. Monroe corridor. Obviously the mall is a major player in that scenario. In response to your financial assistance question there are a couple of different parts to the answer. What we requested was for local government to look at different options that may be available to support the mall and also assist the N. Monroe corridor for improvement. One of the options that we have presented and has been successful efforts in other communities throughout the country was the creation of a TIF or CRA. The basics of these programs do not touch the existing tax base but only would give the developer the increment of tax that increased over the next 10- 15 years. If the mall thrives and revitalizes the surrounding area, local government would be able to increase taxes for that value. Which would add value for everyone involved (business owners, county, customers, etc.) If the area continues to decline or does not improve and the taxes do not increase, Feldman Mall Properties does not receive any dollars from the TIF. Again let me state that this was a suggestion that has worked in the past with our company in other communities and was a suggestion to the local government as one option. I hope that I was able to answer your questions. SD

Hello Everyone, I would like to introduce myself. I am Steven Darby, General Manager for Tallahassee Mall. I have read several of the comments posted and truly appreciate your support. I have been a resident of Tallahassee since 2000 and was relocated here to work at Tallahassee Mall. As you may or may not know Feldman Mall Properties (FMP) had a meeting with the county commissioners on September 18th. Our request at this time is for the county to see if there are any options that could be used to help us improve Tallahassee Mall. The "do nothing" alternative for FMP and local government would result in the decline of surrounding area and possible closure of Tallahassee Mall. Obviously, as owners, we have a large investment in Tallahassee Mall and do not want to see that happen. But also, as a Tallahassee resident, I personally do not want to see this become a blighted area of our community. The Tallahassee Mall is an economic driver for this region, and it would be devastating to lose the nearly 850 jobs, more than $6 million in annual sales tax revenue and more than $1 million in real estate taxes collected. And that does not begin to take into account what has been witnessed in other areas where malls have failed with respect to increased crime and vandalism among other things. I know many residents are concerned about this issue, and I would like to clarify whatever I can to help educate people about our efforts and our request of the city and county. If you have questions or concerns, I'd be happy to address them on this discussion board. Thanks again for taking interest in this issue. I'm here to help if I can. Steven