NASHVILLE, Tenn. -- There was a packed house at the Bellevue Middle School auditorium Monday with people wanting answers about the Bellevue Center Mall.

Video: Bellevue Mall Meeting Brings Large Crowd

This was the first time the struggling mall's owners agreed to sit down to discuss the future.

There is a contract for a developer to buy the property, but the current owners said at the meeting they have no idea what new stores will be moving in.

The mall's owners bought the property in 1997 and later purchased several parcels around the area in hopes of making it more attractive to potential buyers.

A bill was introduced on Monday to make the mall part of an economic development zone, meaning the city could give its new owners tax break incentives that should increase the value of the mall.

Councilman Eric Crafton said it would also be a good deal for taxpayers.

"At the Bellevue Mall the current sales tax revenue is about $3 million a year. If it was totally redeveloped and functional, like a Green Hills Mall, it would bring in around $25 to $30 million a year in sales tax," said Crafton.

No everyone at the meeting was excited about the possible sale of the mall. Some business owners are currently leasing space on the second floor of the mall at low prices. If the sale goes through, they were told that they would most likely have to relocate quickly.

Councilman Charlie Tygard said four years ago that Bellevue Center was paying more than $700,000 in property taxes. That amount is now down to $250,000.