Sales tax revenues from upscale Glendale mall fall short of estimates
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.
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.