DEAL MAY YIELD ROAD FOR PLAZA SHOPPING CENTER PROPOSED AT CITY'S NORTHERN BORDER.Byline: JUDY O'ROURKE Staff Writer SANTA CLARITA Santa Clarita, city (1990 pop. 110,642), Los Angeles co., S Calif., suburb 30 mi (48 km) NW of downtown Los Angeles, on the Santa Clara River; inc. 1987. Situated in the Santa Clara valley and nearby canyons, Santa Clarita includes the former towns of Canyon Country, -- City officials may create a special district to levy taxes on the site of a proposed 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 to help finance a needed road to the property on the northern edge of town. Developers typically pay for such roads, but city officials inked the deal with hopes of netting sizable 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. revenue from the proposed stores. ``The scenario is that the access road needed to make the plaza possible could be partly financed by a share of the sales tax revenue generated by the plaza,'' the city treasurer, Darren Hernandez, said Wednesday. ``If this happens, there is all upside and no downside for the city of Santa Clarita.'' On Tuesday, the City Council approved a memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. with American Retail Development, paving the way for the special district. Tens of thousands of potential shoppers each day whiz past the site east of Interstate 5, north of where state Route 126 and Newhall Ranch Road merge. City planners have been working for a year on the deal, which would not bear fruit unless a mark of $500,000 a year in sales tax revenue is met. The developer ditched plans for an industrial center on the 20-acre site after city officials suggested retail development, which yields more sales tax revenue. American Retail hopes to land a few ``big-box'' tenants as anchors and to persuade Costco, which earlier expressed interest only with prospects of ownership, to locate there. The Los Angeles County Sheriff's Department This article is about the Los Angeles County Sherriff's Department, not to be confused with the smaller Los Angeles County Police The Los Angeles County Sheriff's Department (LASD) is a local law enforcement agency that serves Los Angeles County, California. may also benefit from the road as a secondary access to its Pitchess Detention Center jail complex north of the development, city officials said. The developer built the Gelson's/DSW-anchor center west of the Northridge Fashion Center Northridge Fashion Center is a large shopping mall located in Northridge, California. It opened in 1971. It was severely damaged during the Northridge Earthquake in 1994, but renovated extensively in 1995 and 1998. . judy.orourke@dailynews.com (661) 257-5255 |
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