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St. Charles mayoral hopefuls get down to business

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“The one thing you know if you’ve been in the world of finance is … if we drop the price enough, somebody will purchase it.”

Wyatt echoed Stein’s idea of speaking with the owners to work with them or find another investment group that’s willing to work with the city. He also suggested creating a business district around the mall, which would allow the city to impose a one-cent tax on merchandise sold there that could go back to a special fund that could be used to bring in new businesses.

“It needs to start with good old-fashioned negotiation,” he said.

Rogina reminded the candidates that the mall is for sale, and said that the mall could benefit by being in a business district. He said a big-box store would help anchor it, and he suggested bringing in a sports complex to attract new business.

“I’m not going to give up on the mall,” he said. “I don’t think it’s a debacle, but yes, it’s in a distressed state.”

Rabchuck said he believes businesses will crop up if the right attraction is near the mall. He referred to a mall in Aurora that was dead for a few years until the city built around it.

“As things develop around it, there was more activity, and that gave vitality to the mall and it developed,” he said.

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