- Associated Press - Monday, December 1, 2014

SCRANTON, Pa. (AP) - A department store magnate has made a six-figure donation to a northeast Pennsylvania city to make good on a loan tied to a struggling shopping mall.

Al Boscov gave a $715,173 check to Scranton Mayor Bill Courtright on Monday, saying he felt obligated to repay the city even though it wasn’t legally required.

The Times-Tribune reports (https://bit.ly/12fzA35 ) Boscov’s payment covers the city’s $612,480 loan for The Mall at Steamtown plus $102,693 interest.

The newspaper says a $1.8 million balance on the city’s loan to Steamtown Mall Partners still hasn’t been paid back. Boscov is a partner in that firm.

Boscov says negotiations continue on the mall’s ownership with a bank-affiliated company that acquired it through foreclosure in July from Steamtown Mall Partners.

Boscov’s is the mall’s lone anchor tenant.


Information from: The Times-Tribune, https://thetimes-tribune.com/

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide