President’s Message: Wouldn’t it be nice if all taxes were “voluntary”?
Typically, I steer clear of any politically-charged issue in my President’s Messages, but there is a bill currently pending in the Senate that falls into the “just plain common sense” category. The Marketplace Fairness Act deals with the problem of uncollected sales taxes from the sales of internet retailers that do not have a physical presence in the state in which the consumer makes the purchase. In my opinion, the loophole is the unintended consequence of a law which was passed over two decades ago…long before the impact of technology and internet sales.
The result today – $23 BILLION in uncollected sales tax revenue.
After a very lengthy campaign of a coalition of trade organizations led by the International Council of Shopping Centers (ICSC), the Senate is now taking up the Marketplace Fairness Act of 2013. The passage of this bill is critical to the Commercial Real Estate industry, brick-and-mortar retailers and perhaps most importantly, to our State. As an ICSC Trustee, I want to highlight some important information about this bill:
It levels the playing field for ALL retailers.
Local brick-and-mortar retailers have long been put at a tremendous disadvantage by an antiquated sales tax framework that clearly benefits online retailers. The current sales tax system is threatening our community retailers, which serve as the backbone of our local economies.
Courtesy of ICSC. Click to learn more.
It protects small online businesses.
The law exempts firms with less than $1 million in sales from collecting sales taxes, which would exempt 99% of all sellers and over 40% of all online retailers. It also requires states to streamline the collection process so it is not an undue burden.
It is NOT a new tax.
Sales tax on online purchases is not new; it’s already due and currently should be self-reported by the consumer. 98.6% of us don’t report…should we all go to jail? The Marketplace Fairness Act removes the burden on consumers by requiring online and catalog sellers to collect sales tax at time of purchase.
It promotes a more stable & efficient revenue stream for state & local governments to pay for projects and services.
Without the bill, states may have to raise other taxes for their in-state residents and businesses. Estimates of lost sales taxes in Louisiana alone due to internet sales range from $400 million to $800 million…and this figure will only grow exponentially with current demographic trends. This is a significant hole for a state with a $1.3 billion deficit to fill.
Courtesy of ICSC. Click to learn more.
This bipartisan legislation provides the federal solution necessary to close the online sales tax loophole and level the playing field for all retailers. The Marketplace Fairness Act is a simpler, more evenhanded and efficient sales tax system that will bring numerous benefits to our economy. This is a critical issue that must be dealt with sometime. If not, we are simply kicking the can down the road. To me, it is just common sense.
Read More:
Yes, It’s Time for an Internet Sales Tax
5 Things You Should Know About the Long Overdue Online Sales Tax Bill
Internet sales tax long overdue: Our view
IBM – What a Win for Baton Rouge!
IBM‘s recent announcement that they will open an 800-job technology center in downtown Baton Rouge is a HUGE game changer for Baton Rouge, LSU and Louisiana. Along with the new, well-paying, tech-sector jobs that IBM will bring, the state has committed to fund an expansion of LSU’s computer science program, which will help to provide a well-trained workforce. Additionally, a mixed-use building to be developed on the river and occupied by IBM will transform the skyline of downtown Baton Rouge.
This economic win would not have been possible without the hard work and collaboration between the Baton Rouge Area Chamber (BRAC), the City/Parish of East Baton Rouge, Louisiana Economic Development (LED), Louisiana State University, the Baton Rouge Area Foundation (BRAF) and others that played a key role in successfully luring IBM to Baton Rouge.
Read more details in BRAC’s Press Release and LED’s Press Release.
Business is Hopping along at the Square!
March was a very successful and busy month for the Tenants and Management of Hammond Square. We have not seen official sales reports yet, but according to casual conversations with the Tenants and completely full parking lots at times, we expect great numbers.
Our big Easter event was Saturday March, 30th and the Square was really busy! At 8 am we had classic cars pulling into the lot near Albasha Greek & Lebanese Cafe and East of Italy for the annual Cars for Kids Fundraiser put on by the Golden Oldies Motor Club. They raised a record-breaking amount for Children’s Hospital during their show. 155 show cars were onsite for the event with trophy winners in multiple categories: Best of Show, Best Paint, Best Interior, Best Engine, and Kid’s Choice. The Golden Oldies also had a stage with live performers and vendors set up in the area.
At 9 am we had bunnies from Magic Happens Rescue Group out of Baton Rouge in the space next to Kay Jewelers. The younger crowd enjoyed petting the rescue bunnies and learning facts like how long the average bunny lives and why their ears are so important.
Also happening at 9 am, we had our regularly-scheduled Tangi Humane Pet Society dogs and kitties arrive at a new spot between Dillard’s and Maurices. This was the most successful adoption event to date! Nine dogs and one cat were adopted. According to the manager of Maurices, they enjoyed having all of the animals close to their store. Patrons would bring their children in strollers to the windows while shopping so the kids could watch the animals from inside the store.
The main Hammond Square event, an Easter egg hunt, started promptly at 9:30 with areas divided for children based on age: 4 and under were in an area near Dillard’s, 5 and older were in front of Charming Charlie and Zales. With over 700 eggs to hide, we finished just in time for the start of the hunt! We plan on enlisting the help of more people to hide the eggs next year. After all the planning and hard work, all of the eggs had been gathered in only 5 minutes! The snack table with low-sugar punch, Ring Pops and Rice Krispy Treats was a big hit with the kids. It took longer to give out the snacks than the actual hunt. Another giveaway by Hammond Square was crayons for the kids and bags they could color…a great place to put eggs for the kids who did not bring baskets.
Most of the Tenants specializing in the sale of children’s items had lines of customers waiting for the 10am store openings. Our Easter Bunny pictures were nonstop for multiple hours after the egg hunt as well as our Shopping Center train ride. So far, the majority of the feedback from the community has been overwhelmingly positive. We’ve received a few messages of thanks on Facebook and over the phone from members of the community. Many are saying they remember the old Mall having events, but that was back when they were children and they appreciate having these types of events close to home again.
What is next on the agenda? Hammond Square has partnered with North Oaks Health System for an event to Celebrate Women’s Health on Saturday, May 4th from 10am to 4 pm. This event has already become bigger than what was originally thought when the concept was first explored. North Oaks is providing heart and stroke screenings as well as child safety seat checks. North Cypress is teaching mini yoga/aerobics classes. Dillard’s has a fashion show and cosmetics event going on that day too. Multiple local health-related vendors will be set up at tables throughout the Center to provide people with information and promote their products. North Oaks and Hammond Square have also put together 100 bags filled with coupons and goodies from the Tenants and vendors that will be handed out exclusively to people participating in the events.
Looking ahead to June, we will have a big event to celebrate Father’s day. Most people don’t think about a shopping center catering to that holiday for an event, but we look forward to surprising the community with an event that Dads and kids will thoroughly enjoy.
Remember to Shop Tangi to have your sales taxes benefit the community where you live! 
Stirling Communities Update: Tiger Manor Improvements
Tiger Manor, a 287-unit student housing property situated just outside the North Gates of LSU, was acquired in September 2012 and added to the Stirling Communities portolio of multi-family properties. Since the acquisition, $1.4 Million in renovations to Tiger Manor are well underway, and are approximately 60% complete. All renovations to the complex are expected to be complete by April 15, 2013.
Major renovations include:
- Complete exterior repaint of all buildings
- New primary entrance road off E. State Street
- Card Access Security Gate Systems
- New management office
- Pool Renovations
- Landscaping and Irrigation
- Parking Lot Repairs
Tiger Manor – New Exterior Paint
Tiger Manor – New Primary Entrance from East State Street
Tiger Manor – Card Access Security Gate Systems – Lake Crest Gate Under Construction
Tiger Manor – New Management Office Renovations Underway
Tiger Manor Pool 1 Renovations – New Deck, Coping, and Resurface Underway
Tiger Manor Pool 2 Renovations – New Coping, Tile, Resurface and Suntan Ledge Underway
VIDEO: 2012 Stirling Highlights
2012 was a great year at Stirling Properties! Check out our favorite highlights of the year, from fun company outings to the 3 million square feet of brokerage deals completed. We’re looking forward to what 2013 will bring!
Grand Opening of New Walgreens Marquee Store on Magazine Street
Magazine St. Frontage
NEW ORLEANS, LA – March 21, 2013 – Stirling Properties is pleased to announce the grand opening of a new full-service, Walgreens drugstore in New Orleans on historic Magazine Street. The new Walgreens is a full renovation of the former American Legion building located at 5518 Magazine Street. The 13,000 square-foot marquee store will have a drive-thru window, full-service pharmacy and a Look Boutique that will specialize in high-end cosmetics. The store will open at 8 a.m. Friday, March 22 with a ribbon-cutting and dedication ceremony at 10 a.m.
The site is the original home of the Ed Brauner American Legion Post #307 and portions of the building date back to 1947. The design of the new building was achieved after numerous meetings with our design team, local retailers, area residents and the City of New Orleans. The front and rear facades of the building were replaced and the interior fully demolished. The new design features large windows to showcase the building’s interior, a pedestrian entrance on Magazine Street, and a rear parking lot with a drive-thru window. To pay homage to war veterans and the building’s former use as a meeting spot for them, several American Legion images and symbols were incorporated into the new design.
“This adaptive reuse project represents a true cooperative effort between Stirling Properties, Walgreens, the City of New Orleans, local retailers, and surrounding neighborhoods. Without public input and citizen participation we could never have achieved this level of success. We are proud to bring a once distressed but historically significant property back to prominence once again”, said Peter Aamodt, Vice President of Development for Stirling Properties.
Stirling Properties has a long-standing relationship with the retailer. Construction is currently underway on two other Stirling Properties Walgreens developments located in Terrytown on the Westbank of New Orleans, and on Pass Road in Gulfport, Mississippi.
