With Arcadia's Foulger Ford now following Arcadia Suzuki out of town, Arcadia stands to lose about $230,000 in sales tax revenue per year, just short of 1% of the city's $23.699 million budget.
Bruce Low, general manager of Arcadia Datsun, isn't particularly happy with the city. Reason stems from an about-face by the City Council last winter when it decided in favor of retail commercial developments that would bring sales tax revenue to the city.
Dial-A-Ride fares in Arcadia have been lowered by unanimous vote of the City Council as a result of changes in the way the county allocates Proposition A funds. Current fares of $.85 for a regular ride and $.40 for seniors and disabled will be replaced by fares of $.75 and $.25 respectively.
City Council unanimously agreed to hold a June election to attempt to bail the school district out of its financial troubles. Proposition A would increase the utility tax by 2%, bringing in $550,000. Proposition B would raise the tax an additional 1% bringing $250,000 more. The funds would be for maintenance of school property and facilities used by the city.
Roy Speirs and Steve Worsley are running as a team in the upcoming election. Their publicly stated purpose is to form a coalition with Haltom and Dring to bring about tax reforms. Their initial goal will be to further reduce the utility tax, eliminate the sewer tax, reduce the number of employees and control salaries.
Tove Borgnine is head of a business expanding into international mail order sales. Tova 9 products are based on a cactus extract from the Yucatan Peninsula. Mrs. Borgnine talks about her life as head of a business.
Arcadia could build a multi-purpose Senior Citizen Center for $1.5 million plus the cost of the property, according to a report submitted to the City Council by Warren Shaw, chairman of the Arcadia Senior Citizen's Commission. The report indicated that most of the money would come from state and federal sources, but that Arcadia would need to chip in at least $225,000 of matching funds. The center is necessary, Shaw said, due to a current lack of senior citizen facilities.
The Arcadia City Council approved a 6% hike in building fees, such as building permits, conditional use permits, and request for modifications. The increase, set for November 17, will be used to offset the 6% salary hike that city employees received in the 1989-90 budget.
The Friends of the Arcadia Public Library's 30th annual book sale drew larger than usual crowds, with sales amounting to more than $9000, $1000 more than sales made in 1987.
Within 18 months, Arcadia Nissan, the last of the city's 3 auto dealerships, will pack up and leave town. The departure of the 3 auto dealerships will result in a loss to the city of $450,000 a year in sales tax (about 2% of the yearly city budget).
Foulger Ford, the longtime Arcadia Ford dealership, is moving its Ford-Acura sales to Duarte's new auto show. The $4.5 million dealership will be located at the northwest corner of Buena Vista St. and Central Avenue.
A bill that could generate an estimated $700,000 yearly in additional race track revenue for Arcadia cleared the State Assembly on Thursday and now heads for the Senate. The bill, AB 2780, seeks to authorize Arcadia and other cities to collect up to 1/3 of 1% of the total amount bet at a race track within their boundaries if the city were willing to forego any tax on admissions or parking. Arcadia has never charged a parking tax at Santa Anita Park. Arcadia city officials are neutral at this point, according to City Manager George Watts.
With City Council's final approval of loan and bond agreements, the tax exempt bonds for Arcadia Methodist Hospital were freed to go on sale Wednesday, August 6.
The Arcadia Redevelopment Agency's financial obligations and development projects prevent it from saving $294,000, or 20% of its tax increment, for low-cost housing, as required under California Assembly Bill 265. The state law, concerned with agencies formed since 1976, does not affect the ARA, formed in 1974. Starting in the 1996-97 fiscal year, however, all agencies will be required to set the money aside.
Arcadia's City Council has agreed to float a $26 million bond for Arcadia Methodist Hospital. The refinancing could save the hospital $2.5 million during the next 23 years.
Fashion Park is more than a center of business activity. It sponsors various special events such as the Community Health Fair designed to entertain, educate and assist residents. The mall's sales and property taxes constitute a large portion of the city's revenues.