Irondequoit, N.Y. - The Medley Centre and the properties around it are now worth over $7.6 million according to a recent assessment. That's down from $44 million just a few years ago.

The developers of the mall had a tax agreement with the Town of Irondequoit that allowed them to make payments to the town instead of paying taxes. The mall's developer failed to make payments on time and the town is seeking to dissolve the agreement. 

If the town succeeds in dissolving the tax deal, developer Scott Congel will be required by law to pay taxes on the $7.6 million dollar assessment.