City of La Mirada

FALL 2013

For the sixth consecutive year, La Mirada is a finalist for the “Most Business-Friendly City” award from the Los Angeles County Economic Development Corporation (LAEDC).

La Mirada’s low cost of doing business, business recognition program, and low crime rate were among the reasons for its selection. For over 50 years the City has worked closely with businesses to meet their needs and promote economic vitality.

“Businesses are an important part of La Mirada and we work to maintain positive relationships with the business community,” says City Manager Jeff Boynton. “Being named a six-time finalist for this award reflects La Mirada’s stability as an excellent business location.”

This year, the City expanded its Business Recognition Program to highlight La Mirada business and community achievements at City Council meetings and City publications.

The LAEDC will announce its “Most Business Friendly City” award winner on November 14.

La Mirada Named Finalist for “Most Business-

Friendly City” Award

Property values in La Mirada have grown by more than 5 percent during the past year according to a recent report by the Los Angeles County Assessor’s Office.

La Mirada’s property values grew by $256,405,157 to $5,319,525,500 in Fiscal Year 2013-14. The new figures were part of the 2013 Assessment Roll released by the Assessor’s Office. The assessment roll reflects the value of all taxable property in Los Angeles County in accordance with provisions of the California Constitution.

The first time La Mirada’s assessed value passed the $5 billion mark was in FY 2008-09 when it reached $5,053,220,948. The total slipped to $4,848,619,805 in FY 2010-11 during the depth of the national fiscal crisis. In the three years since that period it has climbed by nearly $500 million.

A decade ago, La Mirada’s assessed valuation stood at $3,728,070,983. In the past 10 years, La Mirada has recorded an impressive net gain in assessed valuation of nearly 43 percent.

Assessed Value of La Mirada Properties Grows

Roseview Shopping Center Improvements

Renovations continue at the Roseview Shopping Center on the southeast corner of Valley View Avenue and Rosecrans Avenue.

The 10,126 square foot shopping center has received extensive façade improvements, including new glass windows, glazing treatments, and stonework. New signage and parking lot landscaping will significantly improve the center's appearance to be more attractive to potential tenants.

Similar façade improvements are also underway at the multi-tenant commercial center across the street at 13940 Valley View Avenue.

City of La Mirada, 13700 La Mirada Blvd., La Mirada, CA 90638 www.cityoflamirada.org

La Mirada welcomes the following new businesses:

Norco Delivery Service14730 Northam Street

Halo-Halo Filipino14241 Firestone Boulevard #400

Beauty Sense Supply & Salon15737 Imperial Highway

Imperial Highway Instruments15847 E. Imperial Highway

Royal Plaza Textiles, Inc.14720 Alondra Boulevard

Love Her Shoes15900 E. Imperial Highway

Brokers Breakfast Oct. 24Commercial and industrial real estate brokers are invited to attend

the City's Annual Brokers Breakfast on October 24, from 8-9:30 a.m., at the La Mirada Theatre for the Performing Arts.

Please RSVP by Thursday, October 17, by calling (562) 943-0131 ext. 2307. The La Mirada Theatre for the Performing Arts is located at 14900 La Mirada Boulevard.

Walmart Strengthens La Mirada Business

CommunityWalmart has announced it will open a Walmart Neighborhood

Market this fall at the Crossroads Shopping Center. The 35,000 square foot store will offer a wide variety of products and will bring about 65 new jobs to the community.

The announcement is seen as a major step forward for the local business community. The addition of the Walmart Neighborhood Market coincides with other improvements to the shopping center, including the recently opened Walgreens, new signage, building façade improvements, a new parking lot, pedestrian walkways, and 4,000 square feet of additional retail space.

The Walmart Neighborhood Market will bring additional economic activity to the area and will increase foot-traffic for neighboring businesses. The store is expected to serve La Mirada and surrounding communities.

The Valley View Grade Separation Project, a shared effort by the Cities of La Mirada and Santa Fe Springs, Caltrans, and BNSF Railway, has made significant progress over the summer months. Construction crews successfully completed excavation work and construction of the new BNSF Railway bridge, which will separate railroad activity from pedestrian and motor vehicle traffic. The project is nearing another major milestone as crews work to move the railroad tracks onto the new bridge structure by the end of October.

The track relocation is scheduled to take place over the weekend of October 25-27, and will require Valley View Avenue to be fully closed during that time. A similar weekend closure of Valley View Avenue in February to temporarily realign the tracks went smoothly.

Valley View Grade Separation Update

Measure I UpdateThe City has begun receiving revenues from Measure I, the one

percent transactions and use tax approved by more than 66 percent of La Mirada voters in November 2012. Money generated by Measure I will be used to fund the City's extensive infrastructure improvement program. Payments from the State Board of Equalization totaling approximately $1,014,000 have been received so far. The City expects to receive some $4 million in revenues from Measure I this fiscal year.

In August, the Measure I Citizens' Oversight Board held its first meeting. The Board includes five La Mirada residents selected based on their experience and education related to financial matters. The Board will monitor progress of infrastructure projects, and review independent financial audits and reports by the City and its consultants. Each year, the Board will issue a report with its findings regarding the use of Measure I funds.