ACTION REQUESTED:
Title
Communication from the City Manager with a Request to Adopt an ORDINANCE LEVYING a SALES TAX Within the WESTLAKE SPECIAL SERVICE AREA. (District 4).
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BACKGROUND: As outlined in an earlier Council action item, the owner of the Westlake Shopping Center has requested an amendment to an agreement that established a Special Service Area that covers the entire shopping center. The current agreement levies an additional property tax that was used to finance the construction of certain parking lot improvements. The developer wishes to provide the same arrangements for the remainder of the property. To make these improvements, the developer is asking to change the previous financing mechanism. While the additional property tax levy would remain, it would be abated by proceeds from an additional sales tax. Customers at retail and restaurant establishments within the complex would pay an additional 0.75% sales tax.
Assuming the amended agreement was approved by the City Council earlier on the agenda, an ordinance needs to be adopted that levies this additional tax.
FINANCIAL IMPACT: There is no financial impact to the City which is essentially acting as a conduit. The amended agreement provides that the City can charge a reasonable administrative fee to cover costs.
NEIGHBORHOOD CONCERNS: A public hearing on this topic was held as an earlier agenda item of this City Council meeting (June 24, 2014). The idea was also discussed at a constituent breakfast meeting hosted by Councilman Montelongo and was well received by those in attendance.
IMPACT IF APPROVED: The 0.75% sales tax will be imposed beginning August 1, 2014.
IMPACT IF DENIED: The additional sales tax would not be imposed.
ALTERNATIVES: None.
EEO CERTIFICATION NUMBER: Not applicable.
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL'S 2014 - 2029 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Attractive Neighborhoods with Character: S...
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