Economic Deve lopment Update

Palm Springs Hospitality Association

July 23, 2013

Overview

• Budget Overview/Measure J

• Downtown Revitalization Project

• Forever Marilyn

• Event Center/Plaza Theatre

• Tourism-Related Projects

• Kimpton Hotel

• Dolce Hotel

• Other Hotel Projects – New and Existing (Arrive Hotel, Spanish Inn, Sparrows)

• Buxton Tourism Data Study

• Downtown Incentive Program for Fee Deferrals (Sewer, Art, Parking)

• Relooking at the Parking Code for Downtown

• Economic Development Incentive Areas – North of Uptown and Ramon-Sunrise Corridor

• Acquisition of Open Space

• iHub/Accelerator

Budget/Measure J

• TOT increased $700,000 over budget in 2013, projected to grow 2% in 2014

• Sales tax was up 4% in 2013

• Measure J was up $1,000,000 more than budgeted in 2013

• Measure J Commission had over 200 applications for funding in 2013

• Commission made recommendations to Council on July 3

• Council to review recommendations in September

Downtown Revitalization Project

Forever Marilyn

Event Center/Plaza Theatre

Hospitality

Kimpton Palomar Hotel

Dolce Resort

Other Hotel Projects

Other Hotel Projects

And of Course….

Buxton Tourism Data Study

Buxton Tourism Data Study

Buxton Tourism Data Study

Buxton Tourism Data Study

Buxton Study: ExampleWithin SCOUT, you can map total households within any geography

Buxton Tourism Data StudyMore importantly, you can map only those households that are most l ike your Primary Apparel tourist consumers.

Buxton Tourism Data StudyI f you have the option of targeting media buys via zip code, you can easi ly identify which zip codes have the most Apparel tourist consumers.

.Zip code 92103 has

14,214 potential Palm Springs tourist

households

Buxton Study Conclusions• 58% of Palm Springs tourist dollars come from 10

Primary demographic customer segments.• 80% of overall retail sales dollars come from 5

geographic markets plus Palm Springs proper.• The Los Angeles area (Southern California) ranks #1

in Tourists to Palm Springs.• Primary consumer households are over 3½ times

more likely than an average household to be a Palm Springs tourist.

• The consumer segment “A01,” America’s Wealthiest, represents over 13% of our total tourist dollars, and has an “Affinity Index” over 1100.

• Data collected represented 152 of the 210 market areas in the U.S. including Hawaii and Alaska.

Downtown Incentive Program for Fee Deferrals (Sewer, Art, Parking)

• Defers – but does not waive – payment of Public Art Fee, Sewer Connection Fee, and Parking In-Lieu Fee on certain remodel projects.

• Deferred until after such project has received a Certificate of Occupancy.

• Program then allows payment of such fees over the next year.

• Limited to the Business Improvement District (BID) area plus the Section 14 west of Avenida Caballeros.

• Applies to existing commercial retail space undergoing a food or entertainment-related intensification of land use subject to either a Conditional Use Permit or a Land Use Permit issued by the City.

Economic Development Incentive Zones – North and South

• Stalled, vacant land projects

• Major vacancies – catalyst

• Use of the existing Hotel Incentive Program

• Façade Improvement/Interior remodel

• Direct Public Works investment

• More aggressive code enforcement

• Leveraging other agencies’ public works investment

Economic Development Incentive Zones – North and SouthNorthern Area Southern Area

Acquisition of Open Space

Other Projects

Contact:

John S. RaymondDirector of Community & Economic

Development

City of Palm Springs

office phone:  760.323.8228

cell phone:      760.902.1903

e-mail:  John.Raymond@palmspringsca.gov