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Sales tax revenues from upscale Glendale mall fall short of estimates

http://latimesblogs.latimes.com/photos/uncategorized/2008/11/16/americana.jpg

Two years after its much-anticipated opening, the Americana at Brand shopping center in Glendale has not paid off in sales tax revenue the way city officials had hoped.

But city officials said it has boosted Glendale's fortunes in other ways.

At $1.16 million, sales tax revenue from the mixed-use shopping center was 15% less than expected in 2009, according to a Glendale Redevelopment Agency report.

But the property tax assessment for the center -- which includes 75 shops, a multiplex theater, apartments and condominiums -- should reach $3.64 million for the current fiscal year, according to the report, or more than double the $1.44 million take estimated in 2003.

At a Redevelopment Agency meeting on Tuesday, Philip Lanzafame, director of the Community Redevelopment & Housing Department, emphasized that the Americana has performed well. It has generated 1,500 jobs, created open space with a two-acre plaza, provided a southern anchor for downtown Glendale and replaced the blighted area that once occupied Brand Boulevard near Colorado Street.

He also said the 15.5-acre, 900,000-square-foot center attracts 68% of its visitors from outside the city, enhancing Glendale's reputation as a regional shopping hub.

Read the full Glendale News-Press story here.

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Comments () | Archives (8)

I can understand missing the sales tax projection given the difficult to predict spending habits, but how is it our tax department people miscalculated revenue from property tax by 100%? If there was more development, shouldn't the forecast have been adjusted?

The mall is great. But I will do anything I can to avoid paying the absurdly high sales taxes in Los Angeles county. The statwide sales tax, given all of our other taxes, is too high, but Los Angeles has added too much on top of that. And some of the cities are even higher. No way.

"He also said the 15.5-acre, 900,000-square-foot center attracts 68% of its visitors from outside the city, enhancing Glendale's reputation as a regional shopping hub."

This is the prime problem with both Redevelopment Agencies and sales tax a a major source of revenue for cities. Redevelopment tax "increment" (i.e. tax monies that would have gone to schools, etc. ) is used to pay developers to build even more, new shiny retail outlets that merely take sales tax away (in this case about 68% of $1.16 million or $700,000) from other nearby cities, who then in turn must subsidize developers to male more new shiny retail outlets in their city. Hate to break it to you all, but retail spending is not elastic to the number of shiny retail outlets. So we are merely providing tax incentives to otherwise well-off retail developers, to develop "blighted" (read "old") who by pulling sales tax from other cities create "blight" in those cities. Sales tax, as a major revenue source to cities, does this, in cycles and all its creates is low paying retail employment. It's time to shoot sales tax as a source and replace it with a local payroll tax so that cities start using redevelopment tax monies to support businesses that create sustainable, career jobs, not simply retail jobs that are based upon us spending every bit of our currently dropping disposable income. California celebrates consumerism and needs to stop and start doing things that draw clean, well-paying jobs. We have the climate, colleges, circulation system and amenities still, we need to make a major change, but that won't happen because cities like Glendale already are invested in the sale tax cycle.

Buy in other locales rather than LA County with it's burdensome taxes.

Sales taxes affect the poorest the most allows others to not pay their equal share. Tea party folks should focus on sale tax and eliminate that first. All community development ( my tax dollars given to investors /developer ) needs too stop immediately if not sooner.

I like your article and we are provides tax filing services, tax refund, state taxes, tax calculation and more services are provide on online. I think E filing is the best way for tax filing, state tax filing and federal tax filing.

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