COSTCO TO GET ADDITIONAL LAND; LANCASTER WILL BUY PROPERTY FOR STORE'S EXPANSION.Byline: Jim Skeen Staff Writer The Lancaster City Council agreed to pay $3.5 million to acquire property for the expansion of the Costco warehouse store, a deal city officials said was needed to keep a prime sales tax sales tax, levy on the sale of goods or services, generally calculated as a percentage of the selling price, and sometimes called a purchase tax. It is usually collected in the form of an extra charge by the retailer, who remits the tax to the government. source from leaving town. City Council approved the incentive package by a unanimous vote in a meeting Tuesday night. ``We needed to nail that (agreement) down to keep that a viable shopping center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into ,'' said Mayor Frank Roberts Frank Roberts may refer to:
Lancaster officials had feared that the store would move to Palmdale, costing the city a business that provides about $350,000 annually in sales tax revenue. Palmdale had an agreement with the developer of the Antelope Valley Mall The Antelope Valley Mall is an enclosed shopping mall in Palmdale, California. Opened in September, 1990, its buildings take up around 1 million square feet (90,000 m²). Its physical main building, parking lots, and ring road businesses encompass an area a bit less than 0. , Ohio-based Forest City, allowing the developer to receive half of all sales tax generated by a big-box retailer, such as Costco, for up to $5 million. The agreement was approved just before a state law was enacted to block such deals, said Palmdale Mayor Jim Ledford. That deal was rescinded in January, however, after Lowe's home improvement store chain agreed to build a store in the Marketplace, leaving no room in the center for a big-box retail store, Ledford said. ``There was no need for them to make a deal based on what Palmdale had offered,'' Ledford said. While that particular sales tax deal was rescinded, Lancaster officials say their southern neighbors were still aggressively pursuing Costco. ``We know they were talking to Noun 1. talking to - a lengthy rebuke; "a good lecture was my father's idea of discipline"; "the teacher gave him a talking to" lecture, speech rebuke, reprehension, reprimand, reproof, reproval - an act or expression of criticism and censure; "he had to them,'' Roberts said. Palmdale has had general discussions about bringing in a Costco or a Costcolike retailer, but those talks never got into specifics, Ledford said. Palmdale is willing to consider offering such assistance as road improvements to a shopping center developer to help lure lure the skin-covered object which runs on a monorail on a Greyhound racing track and which the dogs are schooled to chase. The lure must be kept 30 to 40 ft ahead of the leading dog so that the field is stretched out. a company but will not offer subsidies directly to a retailer, Ledford said. Palmdale, Ledford said, was never looking to close down the Lancaster Costco. The city wants, and will still seek, a Costco or a Sam's Club-type retailer, he said. ``The sales tax war is over in this valley,'' Ledford said. ``If you look at the mix of retail in both cities, what do they have that we don't have?'' Under the agreement approved Tuesday, Lancaster's redevelopment agency will acquire about 15,200 square feet of space in the Valley Central shopping center, buying the former Hudson's Grill restaurant and the vacant Payless Shoe Store building and relocating the existing 99 Cent CENT, money. A copper coin of the United States of the value of ten mills; ten of them are equal to a dime, and one hundred, to one dollar. Each cent is required to contain one hundred and sixty-eight grains. Act of January 18th, 1837, 4 Sharsw. cont. of Story',s L. U. S. 2524. Store that adjoins the Costco store. The Costco store anchors Lancaster's most important retail center. The shopping center, built between 1989 and 1991, covers 610,396 square feet. In addition to Costco, the center includes electronics giant Circuit City, Wal-Mart and home-improvement store HomeBase. The annual sales tax revenue generated by the Costco store is equivalent to what the city pays for its Target Oriented o·ri·ent n. 1. Orient The countries of Asia, especially of eastern Asia. 2. a. The luster characteristic of a pearl of high quality. b. A pearl having exceptional luster. 3. Policing efforts, which target specific crimes or particular crime areas, or a year's operation of the Lancaster Performing Arts Center A performing arts center, often abbreviated PAC, is a multi-use performance space that can be adapted for use by various types of the performing arts, including dance, music and theatre. , officials said. |
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