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Automall levys tax to pay for wall renovations

By: Megan Wood The Press Tribune
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As the Roseville Automall’s makeover gets underway, the automall association levied a new tax to help pay for their portion of the renovation costs at Wednesday’s city council meeting. In 2008, Roseville City Council agreed to a partnership with the automall to invest up to $3 million towards renovating the automall wall, which sits on city property. The 15 dealers at the automall petitioned in September 2009 to create a community facilities district for bond financing for the wall renovation, said Roseville financial analyst Lisa Binner. The automall association then established a special tax on the bonds to cover all administrative and renovation costs over the course of seven years. All proceeds from the bonds purchased will go toward the dealerships’ portions of the wall renovations, said Roseville treasurer Russ Branson. Renovations to the Automall wall include new signage and nine display platforms to showcase new cars that will be visible from surrounding intersections. “The Automall has been in Roseville for 15 years,” Branson said. “It’s time for some renovations and aesthetic improvements to attract business.” Branson said the Automall wall renovation project is scheduled to be completed this fall. The Roseville Automall is the city’s leading source of sales tax revenue, providing more than $90 million to the general fund since 1993. Revenue generated by the automall’s sales tax provides funding for public safety projects, libraries and parks and recreation programs. Megan Wood can be reached at meganw@goldcountrymedia.com