TOWN CENTER ROBUST TAX SOURCE SIMI RANKING IN BUCKS FROM MALL CUSTOMERS.Byline: ERIC LEACH Staff Writer SIMI VALLEY Simi Valley (sē`mē, sĭm`ē), city (1990 pop. 100,217), Ventura co., SW Calif. in an oil, fruit, and farm region; laid out 1887, inc. 1969. - The city is receiving hundreds of thousands of dollars in sales taxes from Simi Valley Town Center Simi Valley Town Center is a shopping center located in Simi Valley, California. The mall opened in 2005 with Macy's and Robinsons-May as anchor stores. The Robinsons-May store was converted into a Macy's Men and Home Store on September 9, 2006. , which opened six months ago with two major department stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. and more than 100 specialty shops and restaurants, 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. initial estimates. Although the state has not reported the sales tax figures, city officials say it appears City Hall will receive about $500,000 in sales tax revenue from the mall from the last three months of 2005. The city, which used a consultant to determine the $500,000 figure for the last quarter of 2005, stressed that there was not enough information yet to project the tax revenues from the mall over an entire year. But they said the fourth-quarter tax estimates were encouraging and indicated the mall was doing well. In the past, city consultants have estimated that the $300 million mall would generate about $2.3 million in sales tax revenue in its first year for the city. The mall's developers have estimated that Town Center would generate more than $3.6 million in new retail sales taxes, property taxes and business license taxes annually, which would help various local government entities provide police and fire protection and recreational programs, among other services. ``I wouldn't be disappointed by $500,000 by any means,'' said City Councilman Glen Becerra, who cautioned that it will take more time to determine how much in sales tax is received from the mall on a regular basis. ``We're a fiscally conservative city, so you won't see us rushing out to spend the money right away. We want to make sure that income is stable and consistent.'' Mark Schniepp, director of the California Economic Forecast, said the final state sales tax figures probably won't be available until fall. ``There is really no way now to tell how well the Town Center is doing, and we will not really know for another year or two,'' he said. Some of the gains in revenue from the 600,000-square-foot mall are probably being redistributed re·dis·trib·ute tr.v. re·dis·trib·ut·ed, re·dis·trib·ut·ing, re·dis·trib·utes To distribute again in a different way; reallocate. Adj. 1. from other stores in Simi Valley and from neighboring communities, including Thousand Oaks Thousand Oaks, residential city (1990 pop. 104,352), Ventura co., S Calif., in a farm area; inc. 1964. Avocados, citrus, vegetables, strawberries, and nursery products are grown. , Moorpark and parts of the San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. , he said. Overall in Ventura County, consumer spending Consumer demand or consumption is also known as personal consumption expenditure. It is the largest part of aggregate demand or effective demand at the macroeconomic level. and retail sales were up about 6 percent last year. While the city is encouraged by the revenue estimates, City Manager Mike Sedell noted that the numbers could improve in the last quarter of this year. When the mall opened in October, not all of its stores were ready. This fall, they'll all be open, potentially meaning higher sales taxes. When people buy from stores in the city, the municipal government receives 1 percent of the taxes, which usually amount to more than a quarter of the money in the city's general fund. Tax revenue from the mall is helping the city maintain streets and provide police protection and other services, including those that help children and senior citizens, Sedell said. Still, the city can't draw conclusions about what annual sales tax revenue will be ``because the numbers we're receiving were really for part of a quarter,'' Sedell said. Vickie Sherman, a Town Center spokeswoman, could not discuss the exact sales figures sales figures npl → cifras fpl de ventas but said officials were pleased with the initial performance. ``We're thrilled with how enthusiastically the community has embraced the Simi Valley Town Center,'' Sherman said. ``We started strong right through the holidays. We're just delighted with sales and performance of the center.'' Among factors that might change the revenue picture in the future will be the expected closure of the Robinsons-May store, along with other Robinsons-May closures in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, that followed the chain's sale to Federated Connected and treated as one. See federated database and federated directories. Department Stores. The Robinsons-May store in the Town Center has been buzzing with customers taking advantage of sales recently, but at some point the store is expected to close. CAPTION(S): 2 photos Photo: (1 -- color) A shopper passes under and through the shadow of a lattice in the Simi Valley Town Center. (2) Sales tax revenues at Simi Valley Town Center are healthy, which gives city officials reason to be optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op . Joe Binoya/Special to the Daily News |
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