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Taxable Sales in Alameda Up From Previous Year

Alameda City Council will review a quarter sales tax report next week.Taxable sales in Alameda were up 16 percent in the final three months of last year, compared to the same period in 2011. The top 25 businesses in Alameda generated 54 percent of sales transactions in the quarter. Sales tax revenue is budgeted to generate 7 percent of the City of Alameda’s general fund revenue for the fiscal year ended June 30, 2013.

According to a report coming before City Council next Tuesday, spending in Alameda generated $1.8 million in the quarter. The target for the fiscal year is $5.3 million. As of March 31st, the city was at 65 percent of the budgeted target compared to 76 percent of target on the same date in 2011.

The Park Street, South of Lincoln district contributed 11 percent of the total, consistent with past quarters, and consistent with the district’s contribution before the re-opening of the historic Alameda Theater.

The district includes the restored Alameda Theater and Cineplex and the parking garage, a redevelopment project sold as a generator of sales tax for the city.

The South Shore Shopping Center remains the leading generator of sales tax, as measured by geographic areas of Alameda, contributing 21 percent of the total in the quarter.

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