Fourth-quarter sales tax revenue in 2009 for Magnolia Park was $258,493, down from $263,578 in 2008, Flynn said. For downtown, fourth-quarter sales tax revenues were down about $75,000, from $1.2 million the previous year, he said.
The district draws $720,000 from the county tax assessor through downtown property owners, which it uses to update the streetscape, promote community events and usher in new stores.
“People know the economy is recovering, and many are hurting, but we are thrilled that the ball is rolling now and we’re getting the merchants in,” said Gail Stewart, the city’s business district manager. “That Burbank is thriving is exciting, and these two districts are bringing in a lot of that new excitement.”
Don Cuco Mexican Restaurant, Pinkberry and Buffalo Wild Wings were among the new eateries that opened their doors before city officials approved an amendment for Burbank Entertainment Village, allowing more than 10,000 square feet reserved for retail to be used for restaurants.
Owners of the Burbank Collection, which shares parking with the Burbank Entertainment Village across the Palm Avenue Paseo, plan to bring forward a similar proposal that increases restaurant space and required parking.
The downtown partnership traces back to 2003, when officials approved a plan for the partnership when San Fernando Boulevard, between Alameda Avenue and Magnolia Boulevard, was mired in a cycle of emptying storefronts and decreasing foot traffic.
Magnolia Park, whose property owners contribute $250,000 to the county tax assessor, hosted the city’s biggest community event, supported a plan to help lift small eateries and continued to work toward a new 41-space parking lot.
