Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

2013 leadership coachella valley

347 views

Published on

Pres

Published in: Business, Travel
  • Be the first to comment

  • Be the first to like this

2013 leadership coachella valley

  1. 1. John RaymondCity of Palm SpringsMay 17, 2013
  2. 2. Budget and Impact of TOTTourism in Palm SpringsConvention CenterAttractionsEventsHotels – New and ExistingPS International AirportDowntown/UptownDowntown ProjectPalomar HotelUnique FeaturesArchitecture/HistoryIndian Land ImpactsEconomic DevelopmentCViHub/AcceleratorChanges/Challenges
  3. 3. Budget SummaryActuals Adopted Projected2011-2012 2012-2013 2012-2013Revenues $71,268,550 $76,428,275 $76,697,703Savings Carryforwardfrom 11-12 to 12-13 1,740,590 1,740,590Expenditures (68,605,934) (78,168,865) (78,168,865)Net Surplus / (Deficit) $2,662,616 $0 $269,428Projected UnrestrictedEnding Balance $11,779,373 $13,041,689 $13,311,117Reserve % Equivalency 17% 17% 17%
  4. 4. TOT and Sales Taxes Summary08-09 Actual 09-10 Actual 10-11 Actual 11-12 Actual 12-13 BudgetHotel Tax $12,751,478 $13,367,685 $15,662,280 $17,861,268 $18,200,000Sales Tax 8,796,538 8,221,763 9,633,250 10,179,526 10,629,504Measure J 0 0 0 1,950,533 8,000,000TOT +Sales $21,548,016 $21,589,448 $25,295,530 $29,991,327 $36,829,504%of Total Rev 32% 32% 36% 42% 48%
  5. 5. Airline ServiceAttractionsSpecial EventsHistoryArchitectureNatural BeautyNative AmericanCultureHotel InventoryDowntown andUptown
  6. 6. 1,300,0001,350,0001,400,0001,450,0001,500,0001,550,0001,600,0001,650,0001,700,0001,750,0002008 2009 2010 2011 2012+14.3%
  7. 7. PopRank Metropolitan Area Year-round Seasonal1 New York2 Los Angeles Y3 Chicago Y4 Washington/Baltimore5 San Francisco Y6 Philadelphia7 Boston8 Detroit9 Dallas/Fort Worth Y10 Houston Y11 Atlanta Y12 Miami/Ft Lauderdale13 Seattle Y14 Phoenix Y15 Minneapolis YPSP Service
  8. 8. Downtown’s street-level door front vacancy ratehas dropped from 10% last year to 7.5%.For the first time in over 5 years the TahquitzCanyon corridor between Indian and PalmCanyon Drive has maintained 95% occupancyfor over 8 months.
  9. 9. Uptown Pioneer Trina Turkexpanded her flagship store inPalm Springs and celebrated anational partnership withBanana Republic whichfostered national recognitionnationwide touting “PalmSprings Style”.
  10. 10. With an astounding 90% participation rate among itsmerchant base, the Uptown District undertook its thirdyear of managing its own branding with a brochure,billboard and Airport advertising campaigns whichhave solidified this area as the “chic” retro retail area,and garnered worldwide press.
  11. 11. • 13 Businesses Currently inProgram• 3 Clients Chosen to Presentat “World’s Best Tech”Conference• Recognized as Best PracticesiHub by State, Co-AuthoredCalifornia iHub Plan• Partnering with NationalRenewable Energy Lab inGolden, CO for Tech Transfer
  12. 12. Phase 1 - AcceleratorCampus to open with 4companies in April, 2013(13,000 square feet)Phase 2 - Accelerator inPlanning/FundraisingStage (40,000 squarefeet)CViHub Accelerator“Investment Grade” Start-Ups2012Heppolt LLC
  13. 13. John S. RaymondDirector of Community & Economic DevelopmentCity of Palm Springsoffice phone: 760.323.8228cell phone: 760.902.1903e-mail: John.Raymond@palmspringsca.gov

×