June
2008 | from
Chuck Newton,
Del Mar
If
I were writing
the headline for the
City Council's
action on April
7, that's how
it would read.
The
Council agreed
to spend $250,000
for a specific
plan to increase
retail sales.
Just to get its
bait back with
the city's 1%
share of the sales
tax, $2,500,000
of new sales will
be needed.
Meanwhile,
6% of sales
on new rents
will go to downtown
landlords--a
flood of new
income on properties
with typically
low property taxes,
especially those sheltered
by Proposition
13 (see Dernetz,
Nov. 2007 Sandpiper ).
This
landlords' windfall
will surely not
draw support from
residents when
the plan goes
to a vote. To
avoid defeat, the
downtown owners should
throw something
meaningful into
the pot, and here's
a suggestion:
Create a Downtown
Assessment District
for providing
parking.
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