pages: CityCouncil/2007-12-04.pdf, 12
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CityCouncil | 2007-12-04 | 12 | category. Councilmember Matarrese stated the business that fabricates windows on Oak Street would be classified in said category; the report is good; a two-year budget will be adopted next June; the revenue stream is flat; auto dealerships will be on the decline; requested that the report be posted to the website for public review. Councilmember deHaan inquired whether taxes would be impacted by approximately one third because of a decline in auto sales tax. The Finance Director responded there are a variety of auto dealers such as used auto dealers and yacht sales. Councilmember deHaan stated yacht sales have declined because a portion of a Marina was closed down for housing development ; used car dealerships will be lost when the new car dealership moves out. The Finance Director stated there are independent used car lots. Councilmember Gilmore stated the report is timely because a local newspaper editorial exhorted residents to spend money locally; the City needs to promote businesses on the Island. The Finance Director stated the referenced editorial noted that every penny of the sales tax comes to Alameda, which is not true; Alameda only receives three-quarters of one percent. Vice Mayor Tam stated that the Alameda Towne Center has been undergoing construction in the last two years; inquired whether the new stores would offer hope for some minor recovery to offset the auto dealership. The Finance Director responded that she is not sure that there will be a total offset stated some improvement has been made; more improvement is anticipated as newer stores finish construction and come on line; the impacts from Old Navy and TJ Max are not known because the report only covers the period ending June 30. Mayor Johnson stated that Park Street sales tax generation north and south of Lincoln Avenue is over $500,000 for the second quarter of 2007; inquired what the City of Albany has that makes sales tax generation higher than Alameda. Councilmember Gilmore responded the City of Albany has a Target. Councilmember deHaan stated that people need to pay attention to the chart that shows General Fund distribution. the impact will be Regular Meeting 12 Alameda City Council December 4, 2007 | CityCouncil/2007-12-04.pdf |