RESIDENTS BACK CARUSO, PLAN STRONG SUPPORT EXPRESSED AT COUNCIL MEETING.Byline: Naush Boghossian Staff Writer GLENDALE Glendale. 1 City (1990 pop. 148,134), Maricopa co., S central Ariz., adjacent to Phoenix; inc. 1910. It is located in a rich agricultural region irrigated by the Salt River project. Glendale has become one of the fastest-growing U.S. - Dozens of Glendale residents at the City Council meeting Tuesday Tuesday: see week. urged city leaders to move forward with the $264 million Town Center development, saying it was a fair business deal for the city and for developer Rick Caruso. Residents overwhelmingly voiced their support for the Caruso project at the first meeting the developer attended since walking off the project last month. The majority of the 80 people who submitted cards to speak during oral communications supported the Caruso center. ``I believe, and I think most residents believe, the benefits (of the Caruso Town Center) far exceed the costs,'' resident Richard Ri·chard , Joseph Henri Maurice Known as "Rocket." 1921-2000. Canadian hockey player. A right wing for the Montreal Canadiens (1942-1960), he led his team to eight Stanley Cup championships and was the first player to score 50 goals in a Movich said. Many speakers said they had spent time reviewing the economic terms of the Town Center deal and felt it was in the city's best interest. ``The property now sitting vacant now provides no 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. or property tax for the city,'' said resident Gene Mestel. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a city staff report, Caruso will be contributing $187.1 million and the Redevelopment Agency $77.1 million for the 15.5-acre retail, housing and entertainment complex that is projected to bring in at least $51.5 million in estimated tax Federal and state tax laws require a quarterly payment of estimated taxes due from corporations, trusts, estates, non-wage employees, and wage employees with income not subject to withholding. revenues - a conservative estimate, according to an internal audit conducted by the city. The center will also bring in 2,500 construction jobs and 1,756 permanent service and management jobs. The business terms, approved in February by the Redevelopment Agency, will be up for City Council approval Tuesday along with the entire Town Center project. Opponents of the Caruso project, planned between Brand Boulevard and Central Avenue south of the Glendale Galleria The Glendale Galleria is a large 3 story regional shopping mall located in Glendale, Los Angeles County, California. It is the second largest mall in Los Angeles County. It is located in Downtown Glendale. , once again questioned giving Caruso 8.5 acres of valuable downtown real estate - nearly half of the development's 15.5-acre site. But Caruso explained that the economic benefits to the city would be significantly reduced with a ground lease. ``The beauty of this deal is it's a hybrid - a portion of the site is contributed and a portion is leased so the city gets the best of both worlds,'' Caruso said. ``On a ground lease, the value of the project is lowered because the project is riskier and the amount of people willing to invest in it are less.'' Naush Boghossian, (818) 546-3306 naush.boghossian(at)dailynews.com |
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