City plans to finalize purchase of Fair Oaks Mall on Friday

Columbus is nearing the final purchase of the Fair Oaks Mall property. Mary Ferdon, director of administration for the city, says that the final real estate closing on the property is planned for Friday.

The city is partnering with Columbus Regional Health and Heritage Fund: The Community Foundation of Bartholomew County to offer to purchase the more than 35 acre site for $5.9 million.

Various committees of the Fair Oaks Community Development Corporation along with the corporation board of directors met yesterday to sign contracts and other details related to the sale. The City Council set up the corporation to oversee the purchase.

Ferdon says that the city will begin more detailed planning on how to use the property in January.