HomeMy WebLinkAbout2013 Economic Developmnt Strategic Plan CITY OF PALM DESERT
STAFF REPORT
REQUEST: APPROVAL OF THE 2013 ECONOMIC DEVELOPMENT PLAN
SUBMITTED BY: Ruth Ann Moore, Economic Development Manager
DATE: January 10, 2013
CONTENTS: Economic Development Strategic Plan
Program Timeline
RECOMMENDATION:
By Minute Motion, approve the 2013 Economic Development Strategic Plan.
EXECUTIVE SUMMARY:
The Economic Development Strategic Plan (EDSP) was developed to create goals and
strategies to enhance the City's business climate and support the economic growth of
the community. The plan includes six goals along with concepts and strategies to
complete the goals. The EDSP lists various tools that may be used to fund future
programs for economic growth. Many of the strategies within the EDSP are in use or
are in the process of being implemented. Others will need to be researched, developed
and funded which will be brought back to City Council for future consideration.
BACKGROUND:
Economic Development in Palm Desert, as in most California cities, has been funded
through the Redevelopment Agency. With the elimination of redevelopment by ABx1
26, staff was tasked with creating an Economic Development Strategic Plan (EDSP) to
evaluate the City's efforts and research new programs and funding sources.
Staff approached this effort by researching the City's primary economic infrastructure
and the current demographics of both the City and the surrounding community.
Additionally, staff attended conferences and webinars to review potential funding
sources used by other cities and counties.
Focus groups from the City's various committees and outside agencies were formed to
look at the City's strengths, weaknesses, opportunities and threats to determine if the
current course is correct and what new steps should be taken.
Staff presented a draft of the EDSP to the City Council in a study session last October
for comments and suggestions. Council requested staff meet with the Youth Committee
Staff Report
Economic Development Strategic Plan
January 10, 2013
to gather their input on future needs of the City. This was completed in December and
included suggestions for entertainment amenities and specific retail stores. These will
be taken into consideration as staff works with future developments.
From the research, six primary goals were developed along with actions to accomplish
the goals, including:
1. Support existing businesses through a variety of economic efforts, partnerships,
business outreach and special events.
2. Assist in the creation of new retail opportunities and commercial development.
3. Support expansion of additional resort/hospitality development and improve
competitiveness of existing hotel product to attract tourists and conventions.
4. Provide recreational, cultural and entertainment opportunities and promote Palm
Desert's quality of life amenities to encourage growth and tourism.
5. Support the City's education institutions as an important factor in the continued
and diversified economic growth of Palm Desert and the Coachella Valley.
6. Support the expansion of business through the promotion of new clean and
renewable energy and to protect the City's quality of life and natural and financial
resources.
Strategies listed in the categories of Immediate Actions, Mid-term Efforts, and Long-
range Efforts were developed to achieve the goals. Many of the immediate actions are
currently in place or being implemented as noted in the EDSP timeline (attached).
Other efforts must be researched and funded.
As previously stated, the City's Redevelopment Agency was the major funding source
for economic development. Alternative potential funding sources have been listed in the
EDSP. The funding sources will need additional research and policy determinations by
City Council in order choose those that would be appropriate to fund new programs.
Mid-term and long-range efforts, along with funding sources will be brought back to the
City Council for approval. Therefore, staff recommends that Council approve the EDSP
and direct staff to continue implementation of current programs and research and
develop new programs to meet the EDSP goals and objectives.
G:\rdalRuth Ann Moorelword data\STAFF REPORTS\EDSP 01-10-13.doc
Staff Report
Economic Development Strategic Plan
January 10, 2013
FISCAL ANALYSIS
The current strategies and programs within the EDSP are funded. New programs and
financing opportunities will affect the General Fund and will be brought back to City
Council for approval in the future.
Submitte y: Department Hea :
�
/� -
� u h n Moo artin Alvarez
Economic Development Manager Director of Economic Development
�roval: CTfY COUNCII.AC fON
? API'ROVED DENiF.D
RECEIVED OTHER
o n Wohlmuth, City Manager MEETI G DAT �
'� AYF,S. ' � '�
NOES:
' ABSrNT: �
ABSTAIN: �
VF.RIFIED BY:
Uribinal on File with Ci lerk's Office
G:\rda\Ruth Ann Moore\word data\STAFF REPORTSIEDSP 01-10-13.doc
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The Economic Development Strategic Plan (EDSP) provides an assessment of existing
conditions that drive the economy in Palm Desert and is intended to help local
stakeholders and city staff implement strategies that contribute to the City's economic
health. The EDSP includes strategic recommendations to enhance Palm Desert's
business climate and support economic growth that is consistent with the community's
character.
Due to fluctuations in the economy at the national, state, and local levels, the EDSP
should be viewed in a goal achieving timeframe of five years rather than in the long
term, such as with the City's General Plan. With the continual changes in funding due
to ABx1 26, it is recommended that the EDSP be a flexible plan rather than static and
the goals be reviewed each year to take advantage of possible new and upcoming
funding sources.
The following ideals emerged from the evaluation of issues and opportunities
associated with Palm Desert's primary economic drivers:
• Cultivate Palm Desert's appeal as a tourist destination.
• Work with commercial developers, hoteliers and business entrepreneurs to
create quality shopping, dining, entertainment and stay experiences.
• Work with higher education to provide facilities and curricula to train and
educate our workforce for higher wage jobs that support our community.
• Encourage existing local business to be successful and expand.
Page ( 2
I. Approach
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In preparing the EDSP, the economic development staff reviewed the community's
primary economic infrastructure and worked with various focus groups and individual
stakeholders to define several guiding considerations to provide a framework for the
development of this document.
The recent elimination of redevelopment, which previously supported economic
development in Palm Desert and many other communities, provides the City with an
opportunity to start from the beginning and evaluate the City's needs; determine if our
current course is correct; and what new economic development tools can be used or
enhanced to put the limited financial resources to the best use.
While many of the strategies within this document are in use or are in the process of
being implemented, others will need to be researched, developed and funded.
Focus groups and individual meetings were conducted with executive staff, the
business community, and groups of varying interests and age ranges to identify Palm
Desert's key assets and liabilities.
Page � 3
, ,
A summary of the Strengths, Weaknesses, Opportunities, and Threats is listed below:
Stren ths O portunities
• Central valley location • Work with hoteliers to increase
• Available land for development room occupancy
• Accessible to large drive market • Develop a stronger downtown
• Attractive �ecQnd hQm� presence for EI Paseo
market/affordable residential • Work on zoning for mixed use/live
• Natural beauty/open space and work/parking standards
• Weather • Redevelop HWY 111 Corridor
• Strong K-12, higher education � Promote/expand aspects of culture
• Cultural amenities/ Recreation and recreation
• Shopping mix • Expanding educational
• Accessible activities for tourists opportunities with healthcare
• Strong brand • Look at zoning in north sphere for
• Fiscally strong local government entertainment opportunities
• Accessible medical facilities • Development of hotel/timeshare at
• Quality of life Desert Willow and area
• Sense of community surrounding EI Paseo
Weaknesses Threats
• Isolated from large population • Funding opportunities for economic
• Weak labor pool development
• Lack of middle class/professional • Regional competition for
jobs destination retail
• High utility costs • Slow housing recovery/weak
• Seasonal tourism & business property values decrease revenues
• Limited higher education/majors • Competing visions impede new
• Limited diversity development
• Limited activities for 20-30 age • Resurgence of competitive valley
• Hotel product dated & limited to cities
mid-range
• Heavily weighted toward golf
• Mall & Hwy 111 need renovation
• No defined downtown
• Lack of public transportation
Page � 4
� t
II. Guiding Considerations
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The following concepts were taken into consideration when forming each objective and
strategy to achieve the primary goals.
• Ensure broad community benefit from economic growth and prosperity.
• Build on existing strengths in areas such as arts, entertainment, retail, dining,
alternative energy, medical, quality of life and the environment.
• Work to support long term jobs for residents and reinforce Palm Desert's key
role in the regional economy.
• Reinforce the message that businesses are a vital part of the Palm Desert
community.
• Fully explore collaborations with the other county, state, education and not-for-
profit groups to create new business programs and increase job opportunities.
• Realize the community's limits and the role of government when implementing
new economic opportunities. Do not create a "new wheel," rather improve upon
the "existing wheel."
Page � 5
III. Background and Today's Economy
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In 1973 the City incorporated with a population of 10,100 and a budget of only
$241,266. Through its central valley location, available land for development, and its
forward thinking and innovative City Council, Palm Desert has grown into a thriving
community as represented by the information below:
Population Growth Palm Desert, 1991-2012
2000-2012 0 � � � � � � '
l.)p$,316 or 20.2% m rn an+ o^i � '�^ a � a�i i
v v oo � �
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a°j~ a°'� a°'�' a�p a°'� a°'b �,� aq� a�'�' &4 d'~ d'� 3'�' d� d'� d'� cY� o°�' 8�' O�� O^~ O"'
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Source:CA Department of Finance
Palm Desert population grew by 20.2% over the past twelve years. Palm Desert is
now the third largest city in the valley.
Page � 6
-_
Age Distribution Palm Desert& Inland Empire, 2010
underi0:iza% ■palm Desert Inland Empire '
55&Over 47.4% ',
16.990 17.1% '� .
' 153% 15.8% I
14.6%
13.4% 13.4% 13.5%
12.1%
i
9J%
� 9.2Yo 9.0% 9.1% �
8.2Yo I
� 7.4% �
S.S%
5.0% 4.6%
�
�
�
I
i
0-9 10-19 20-24 25-34 35-44 45-54 55-64 65-74 Over 75 ,
Source:2010 U.S.Census
Palm Desert has a far greater share of baby boomers and retirees than the Inland
Empire. In 2010, the City's share of those over 55 or older was 47.4% versus 20.1% of
the Inland Empire.
; s131,zso Median Income by City Coachella Valley Citites, 2010
�
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i ss ,n� Sa�,aia
Saa,�3i
' Ii $36,355 $40,566 $34,443 �
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` � � �r a �; ,c� ��c Q�
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. �03 � o R� F� xa�a C.��` C o .
: c � Qa %o w �'
, �,eC Q Ve �i .,
Source�2009 American Community Survey arM Economia&Politi<s,Inc �
I
Palm Desert has the fourth highest median income in the valley, which is above the
Coachella Valley's total median income of $45,884. The average household income in
Palm Desert is $79,273 as compared to the valley's average household income of
$68,067.
Page � 7
Employment Palm Desert 1992- '
2011
200�-201� 32•224 31,874 32,292 32,886 .
down-1,245-4.59� Zy,ssa 3°,aal 3o,ass
27,873 28,661 28,252 �
. 26,376 26,769 26,627
22,525
20,767 �
� 18,237- 19,251
17,081 �
: 15,731 i
14,663
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� 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 r 2003 2004 2005 2006 2007 2008 2009 2010 2011 �
i Sourrn:CA Emolovment Develooment Oeoartment
�
Employment in Palm Desert grew steadily until its peak in 2007 with 32,886 jobs before
falling off to 26,627 jobs in 2011. During this recession, Palm Desert lost 4.5°/o more
jobs than it had gained over the past decade partially due to a shift to other cities with
greater amounts of available developable land.
Employment Distribution By Sector
Palm Desert, 2011 s,so6
j 31.2%
3,825
' 14.4% 2,866
2,035
1,664 1,496 1,704 10.8%
1,434 1,353 6 qy 7.6% 939 1,006 I
, 5.4% 5.1% 63% 5.6%
' .�_r s_,_� __ST�_-_�_..iii�. _ �R� _� , _
Fin/Ins/RE Coastruction Healtb Bus.Sv. Education SmallSectors Utilities Distribution Retail Hotel/Amuse Oth.Serv, i
�
I
I
I
' Sourre:GA Employment Development Departmet .
i
In 2011, over 45% of all jobs in Palm Desert came from either the retail or
hotel/amusement sectors. The sectors with higher wage jobs such as finance, health,
business and education only account for 23.7% of all jobs in the city.
Page � 8
, _ _ _ __
_ _ _ _
�
Bank Deposits(000) � °
�, ^^ �
Palm Desert, 1992-2011 � � N °°
^ N
� N �
N � M � �
Vl ry � N
2�00'Z�ZZ ap W p^p � N � .
� �y K ri �y N '
N � N I
O 01 � V/ � � i
N
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N '-1 � O m � � �
� � 0 � O N tYf N
n ^ pp W 0�0 0�0 N � i
i •--� � r`i ao � N � :
.-i
� � p�j O O ry ip O N N � i
� � t�D 1A Oa1 Qai N �:
W � � N N �
V? � N I
�
I I
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Source:Hiehline Oata
Deposits in Palm Desert's financial institutions have continued to rise with an increase
of 138.5% from 2000 to 2011. Palm Desert ranks second in bank deposits for all cities
in Riverside County and ranks first in the Coachella Valley.
Reported Crime Rate Per 1,000 Residents
Palm Desert, 1993-2010
' 109.1
�j 1993-2010 Crime Rate Per 1,000 Residents �
Down-63.1% '
� 93.4 Incidents down-1,047(34.8%) .
$��3 Population up+21,203(+76.9%) ��
70 70.6
66.1
i! 59.5 56.6 58�9 60.1 �
54.5 53.8 52.7
47.6 501
' 44.2
39.5 40.2 '.
i
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i
I i
i
� 1993 1994 1995 ~ 1996 1997 1998 ` 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 ��,
, Source:UNform Crime Report,FBI
Palm Desert's crime rate has fallen dramatically since 1993, despite a population
increase of 21,203 people over the same time period. Palm Desert ties Rancho Mirage
with the lowest violent crime rate reported in the Coachella Valley.
Page � 9
IV. Palm Desert Economic Drivers
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Retail
A healthy retail sector is critical to Palm Desert's ability to provide goods and services
to its citizens, visitors and business community. Palm Desert has taken advantage of
its central location in the Coachella Valley to establish itself as a powerhouse in this
economic sector with a variety of retail environments including: Westfield Palm Desert
the valley's only regional shopping center; big box centers such as Desert Crossing
and Desert Gateway; EI Paseo Shopping District, the City's destination retail district
servicing high-end clients and tourists; and neighborhood centers, servicing the daily
needs of the residential community.
' Taxable Retail Sales(000)
' 20oo-2oii Reca�i saie5 Palm Desert, 1990-2011
Up$184 million or 15.1% O1 a0
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�v ti �v ti ti ti ti �v ti �v 'Y h '� ti '� '� '�� '�� '� '� '� '�
Source:CA Board of Equalization �
In 1973, Palm Desert's retail sales were $8.2 million. With the exception of the recent
recession, the City's retail sales have continued to grow and now reach over $1.4
billion. However, to remain competitive, there are some constraints and concerns that
should be addressed.
Page � 10
�
Issues O ortunities
• Larger boxes are contributing to • Planning staff is working on parking
vacancies studies for requirements specific to
• Hwy 111 area lacks cohesive Palm Desert
development and has an outdated • Developers are aggressively
image recruiting targeted retailers for
• Water Quality Management Plan larger spaces
(WQMP) costs may stifle infill • Developers are working to update
development larger centers in the City
• EI Paseo lacks effective destination • As the north sphere begins housing
signage for tourists development, there will be more
retail op ortunities
Tourism and Conventions
According to the Convention & Visitors Bureau, Palm Desert and the surrounding cities
import over four million visitors who contribute approximately $2.1 billion into the
valley's yearly economy. Tourism also is a major job generator with one in every six
jobs within the Coachella Valley attributable to this industry. Palm Desert has the
second largest room inventory in the Valley with over 2,200 hotel rooms and
timeshares. Hotel bed taxes are the second largest funding source for the City's
General Fund.
Hotel Room Sales '
2,202 Hotels Rooms
98.5
91.1 91.1 92.1
81.3 79.8 77.8 80.9 79.0 78.1 82.4
74.0 76.0
66.0
56.0 60.0
i
52.0 I
I
I I
r ,. r r , ,_ ._ �
i
! 1995 1996 1997 1998 1999 2000 2001 2002 2003 T 2004 2005 2006 2007 2008 2009 2010 2011 �I
�i Sales Figures in Millions . Source:Cityof Palm Desert �
Palm Desert's hotel inventory can be categorized by price and by use. The following
are examples of hotel categories:
• Convention and larger hotels— JW Marriott and Embassy Suites
• Extended stay— Homewood Suites and Courtyard by Marriott
• Mid-price accommodations — Holiday Inn Express and Best Western
• Boutique — Shadow Mountain Resort and Tres Palmas Bed & Breakfast
• Timeshare — Marriott Shadow Ridge and The Westin Desert Willow Villas
• Short term rentals — Private homes and condos throughout the City
Page � 11
Issues O ortunities
• Lack of hotel rooms surrounding EI • EI Paseo has two parcels with hotel
Paseo shopping district land entitlements
• Hotel products are outdated • The City could assist with
• Mid-week vacancies renovating hotel product through an
incentive program
• Work with hotel management group
to create opportunities to attract
tourists and conventions
• City has the lowest TOT rate (9%)
in the valley. The rate could be
increased by 2% and still be the
lowest in the valle .
Culture and Events
Arts are abundant, both in the City and in surrounding communities. Palm Desert
boasts a multitude of galleries, two arts shopping districts; large-scale art exhibits on EI
Paseo and public art pieces throughout the City's many parks and public spaces. The
City recently welcomed the opening of a satellite museum of the Palm Springs Art
Museum, The Galen, to Entrada del Paseo.
Entertainment and events abound throughout the community and attract tourists
including golfing events, music festivals, cultural events at the McCallum Theater,
monthly Art Walks, the Living Desert Zoo & Botanical Garden, and Fashion Week on EI
Paseo.
According to a recent study by Arts Oasis, the arts sector generates over 8,200 jobs, or
7.3% of the total 112,437 jobs in the Coachella Valley. Income for creative workers in
the Coachella Valley is 30% greater than the average. Cultural and entertainment
events drive additional economic impacts for the community from attendees who shop,
dine and stay in hotels. According a 2010 Americans for the Arts economic prosperity
study, local attendees spent an average of $17.42 per person, per event, in addition to
the cost of admission. Nonlocal attendees spent twice this amount, or close to $40 per
person, per event.
Local and part-time residents strongly support the arts and entertainment community
making this an economic driver both in its ability to attract tourists and in its potential
for job generation.
Issues Op ortunities
• There are multiple arts offerings • Desert Art Oasis is in development
with no apparent coordination of of a master calendar event website
events to promote to • The Galen offers classes and
residents/visitors exhibits for the community and
• A lack of affordable work/live space students
for aspirin artists
Page � 12
Issues Op ortunities
• Funding to grow the public art � Combining various art events and
collection comes from activities could create larger events
development, which is currently to attract visitors at little cost to the
stagnant City
• Grant writin for public art
Educational Institutions
Palm Desert is home to all four major higher educational campuses within the
Coachella Valfey including:
• College of the Desert, which provides two-year educational opportunities in
nursing, public safety, agribusiness, alternative-fuels automotive, culinary arts,
early childhood education and other specialized fields.
• California State University, which offers ten bachelors and master degree
programs including nursing, nutrition and food science, criminal justice,
education and business administration.
• University of Riverside, which currently reorganizing the local curriculum.
• Brandman University, which offers bachelor's degrees in early childhood
development, psychology and sociology; master degrees in psychology and
special education; and teaching credentials.
Adult Education Level,Aged 25&Over
� Palm Desert,Southern CA Areas, 2010 '
i ■High School or Less BA or Above
47.1� 48.6% 46.3%
44.696
34.6% 36.6% 34.0% 33J%
3L1% 32.4%
29.2%
22.8% 203�
18.695
i _
i Qa\mpese4 `�e\\a�aOeY cee(�a�do° AJe�yae �oSPo�e\es ��ao�e Sa���e�°
C,°a Sa
. Source:2010 American Community Survey,Censuz eureau
Over 31% of Palm Desert residents have a bachelors or higher degree. This exceeds
the total residents in the valley with a degree (22.8%). According to the 2101 American
Community Survey by the Census Bureau, more Palm Desert residents with full-time
jobs work in the education and medical fields (19.9%) than any other job sectors.
Page � 13
Education provides both work force training for businesses coming to the valley and
living wage jobs for teachers and administrators who reside in the community.
Issues Opportunities
• Land banked for campuses is in • UCR has begun development of a
jeopardy due to AB1x 26 medical university
• State funding for community • CVEP's workforce plan is working
colleges and universities is causing with all education levels to train
a reduction in classes future workers in the medical, arts
• DSUSD dropout rate is 10.5% (CA and technology clusters
Dept. of Education 2009-2010) • Desert Sands Unified has higher
PDSH dropout rate is 3.3% performance test scores than the
• Education opportunities are limited State average
for rofessions in science and math
Other Job Sectors of Note
Medical — According to the Bureau of Labor, the healthcare industry will generate 3.2
million new jobs nationwide over the next ten years, due in part to rapid growth in the
senior population. While none of the three local hospitals are located within Palm
Desert's city limits, the community does support a wide variety of inedical offices and
treatment facilities. Palm Desert with its many retirees and home to all of the
Coachella Valley's major higher education facilities is poised to see growth in medical
educational/training and benefit from the accompanying jobs that will be generated
within the community.
Energy Sector — The passage of AB 811 and subsequent PACE loan programs
nationwide have spurred growth in the solar industry. The clean energy industries
such as solar, can create new higher wage jobs, green jobs, and reduce the amount of
energy consumption in the City.
In August of 2008, the City established its Energy Independence Program (EIP) to
encourage energy conservation and efficiency improvements such as solar panels, air
conditioners and efficient windows for residential and commercial businesses. To date,
the City has committed up to $15 million to the EIP Program and has so far invested
$6.6 million in energy projects.
With over 350 days of sunshine annually, Palm Desert is a prime location to encourage
the development of clean energy industries. Reducing greenhouse gas emissions is
an ideal way to secure the City's quality of life, and preserve its natural and financial
resources.
Home Design/Decor — Housing construction and renovation fueled our region's most
recent growth spurt. While the recession brought this industry to a virtual halt, the
housing market will eventually rebound bringing these jobs back to the desert.
Page � 14
V. Guiding Principles
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The City of Palm Desert's guiding principles for economic development are the
foundation for key goals and actions.
1. Support existing businesses through a variety of economic efforts, partnerships,
business outreach and special events.
2. Assist in the creation of new retail opportunities and commercial development.
3. Support expansion of additional resort/hospitality development and improve
competitiveness of existing hotel product to attract tourists and conventions.
4. Provide recreational, cultural and entertainment opportunities and promote Palm
Desert's quality of life amenities to encourage growth and tourism.
� 5. Support the City's education institutions as an important factor in the continued
and diversified economic growth of Palm Desert and the Coachella Valley.
6. Support the expansion of business through the promotion of new clean and
renewable energy and to protect the City's quality of life and natural and
financial resources.
Page � 15
VI. Key Goals & Actions
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1. Support Existing Business
Immediate Actions:
• Continue the promotion of various programs available to small
businesses on the City's government site www.cit of almdesert.or for
Small Business Administration (SBA) loan programs, Service Corps of
Retired Executives (SCORE) services, and the CA Economic
Development Administration's one-stop shop program.
• Continue to work with the Chamber of Commerce to support Palm Desert
businesses.
• Meet with businesses and property managers to address immediate
challenges and concerns.
• Participate with the City's Sustainability Committee to ensure advocacy
for the business community as Palm Desert continues to improve
efficiencies in energy and conservation.
• Follow-up with businesses regarding the recent Coachella Valley
Economic Partnership (CVEP) business survey and conduct personal
visits to local business establishments to determine needs.
Page � 16
• Maintain a strong business presence on the City's tourism site
www.palm-desert.orq for hotels, restaurants, shopping districts and
events.
• Continue the out-of-market advertising campaign to attract tourists to
Palm Desert.
• Continue to support Palm Desert's Dine Out program or other similar
programs and sponsor Restaurant Week.
• Increase awareness of the Visitor Center among the business community
� as a resource for distribution of information.
Mid-term Efforts:
• Evaluate streamlined permitting and other means of business assistance.
• Work with CVEP in the development of a micro-loan program and
promote this opportunity to area businesses.
• Coordinate business programs and services with Small Business
Development Center (SBDC) including an area loan fair.
• Increase the use of social media tools to promote business, attractions
and events.
• Increase co-op advertising opportunities to support business entities and
attractions.
Long-range Strategies:
• Maintain focus on long-term development of businesses that provide
general fund revenues, improve infrastructure and services for residents
and tourists.
• Maintain a strong relationship with CVEP to assist with the growth of
area business clusters and development of an educated workforce.
• Explore funding/grant sources to reinstate a Farade Enhancement
Program for specific areas along the Highway 111 shopping corridor.
2. Create New Retail Development
Immediate Actions:
• Continue to work with the local real estate brokerage community to attract
retail business by providing information on locations, demographics and
sales analyses.
Page � 17
• Continue to provide ombudsmen services between new businesses and
the various City departments during the permitting and entitlement
processes.
• Replace the current Commercial Space Inventory Report and contract
with Desert Area Commercial Information Exchange (DACIE) to provide
site selection information and locations in order to eliminate staff time for
information gathering.
• Complete field counts of various parking lots to determine actual needs of
specific shopping areas in Palm Desert.
Mid-term Efforts:
• Create a streetscape standard to provide an improved outdoor dining
experience along EI Paseo while continuing to allow adequate sidewalk
accessibility.
• Develop a policy to assist with funding as it pertains to WQMP.
• Assist in the renovation efforts of WestField Palm Desert and Town
Center Way.
Long-range Strategies:
• Work with the General Plan Update to focus on the appropriate
commercial and entertainment development in the north sphere,
specifically the area surrounding the universities.
• Explore the Main Street City designation and what benefits are derived
from the designation.
• Explore funding/grant sources to implement the directional sign program
for EI Paseo.
3. Expand ResortJHotel Development
Immediate Actions:
• Coordinate efforts to develop the Larkspur Lane hotel site.
• Create a quarterly meeting with hoteliers and City staff to develop
coordinated programs pertaining to conferences and conventions and to
assist with property issues.
• Respond to inquiries from potential developers regarding hotel/timeshare
opportunities at Desert Willow Resort.
Page � 18
Mid-term Efforts:
• Meet with hoteliers to assess existing hotel product for potential future
updates.
• Develop a shared transient occupancy tax incentive program for hotel
renovations.
��ng-tPrm Str�tegy:
• Continue to explore additional hotel development opportunities around EI
Paseo and throughout the City.
4. Provide and Promote Recreation/Culture/Entertainment
Immediate Actions:
• Work with Arts Oasis to determine the depth of the current art community
in Palm Desert.
• Work with various ongoing art events to create a "First Weekend Art
Promotion & Tour" each month from September through May.
• Continue to work with Fashion Week EI Paseo as a city signature event.
• Continue the promotion of arts and events on the City's tourism site and
through the Visitor Center and social media.
• Continue to work with the Galen (Palm Springs Art Museum Palm Desert)
to coordinate events and activities for residents and visitors.
Mid-term Efforts:
• Work with hotels and restaurants to provide packages and incentives for
First Weekend Art Promotion & Tour.
• Work with local galleries and the Galen to create a signature art event for
the city.
• Integrate cultural tourism advertising with the existing out-of-market
advertising campaign.
• Explore event opportunities to promote the many area outdoor activities
including biking, hiking, golf and swimming.
Long-term Strategy:
• Brand Palm Desert as an arts and culture community.
• Assist in the recruitment of a professional arts supply store.
Page � 19
• Research the needs for live/work space or a studio district for the arts
and work with General Plan Update to provide zoning for locations.
• Investigate funding for Desertscape's plein air events.
5. Support Education Institutions
I�media#� ,��t;�ns:
• Continue working with Cal State and UCR to ensure the land surrounding
the universities is available for campus expansion.
• Work with CVEP in their ongoing efforts to expand educational
opportunities for youth in the City.
Mid-term Efforts:
• Work with UCR as they develop their medical affiliation with local
hospitals to ensure educational opportunities for residents.
Long-term Strategy:
• Investigate incubator facility funding that can be incorporated into related
fields of study for the upcoming campus expansions.
6. Promote Clean Energy
Immediate Actions:
• Promote the City's Energy Independence Program (EIP) to commercial
property owners through direct mailings, City's Brightside Newsletter and
local media.
• Conduct quarterly meetings with contractors to inform and update them
on the status of the City's EIP, available funding, the Federal Housing
Finance Agency (FHFA) lawsuit and national Property Assessed Clean
Energy (PACE) initiatives.
• Conduct informational meetings with commercial property owners
regarding energy efficiency rebates, renewable energy installations, and
EIP financing opportunities.
Page � 20
Mid-term Efforts:
• Modify the EIP guidelines to address existing program criteria (i.e.
funding cap, consent agreement) that may be limiting commercial
participation in the EIP.
• Continue to monitor the national PACE movement, federal PACE
legislation and report implications to the commercial property owners.
• Establish a citywide inventory of potential commercial roof top area
available for solar installations and work with property owners to provide
information on the benefits of solar and available financing.
Long-range Efforts:
• Secure additional funding for EIP.
• Coordinate with CVAG's efforts to establish a regional PACE program.
• Secure a qualified consultant to implement and promote the City's
commercial EIP with third-party funding.
Page � 21
VII. POTENTIAL FUNDING SOURCES
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As previously stated, the City's Redevelopment Agency was the major funding source
for economic development in Palm Desert. With the elimination of Redevelopment, the
City must look at other funding mechanisms. The City Council may need to make
policy decisions to accommodate new programs when determining how to fund
economic development projects. The programs should be based on the return-on-
investment to the General Fund that would be gained by participation and a "feasibility
gap analysis" as to the amount of funding the project needs.
The following are funding examples currently available to the City:
• Sales Tax Rebates — A program could be developed for projects that will either
return all or a portion of sales taxes to a developer for a specific period of time in
order to assist with the project's development.
• Sale Tax Increase — A sales tax increase would add to the General Fund.
Resulting revenues could be directed to a line-item in the budget to assist with
the development of projects within the City.
• Transit Occu[ancy Tax (TOT) Rebates — A program could be developed to
encourage hotel renovations and/or new construction that would expand and
update the hotel product within the City therefore, increasing accomodations
and TOT to the General Fund.
Page � 22
• TOT Increase — TOT could be increased to fund promotional/marketing
programs to attract more visitors to the City and increase revenues to the
General Fund. A program could also be established to work with local hoteliers
to attract conventions to the City that will also increase sales tax.
• General Fund Budgetary Commitment — City Council could elect to create an
"economic development reserve" as a funding resource for various programs
and projects such as; a Fa�ade Enhancement Program, assisting with
renovations to projects as they pertain to W�MP, or funding for amenities that
may not increase the General Fund but attract visitors and enhance the quality
of life for residents.
• Short-term Lines of Credit — loans secured and repaid by new property, TOT or
sales taxes generated by the project.
• City Fees Discounted/VVaived/Deferred — can act as an incentive to developing
projects.
• Federal/State Grants or Economic Development Initiatives — These may
become available to increase access to capital for small businesses.
Other funding mechanisms include the following:
• Infrastructure Financing Districts (IFDs) — bonds issued through IFDs require
two-thirds voter approval and can be used to help pay for infrastructure-type
projects by diverting property tax revenues to pay debt service from other local
governments, except schools.
• Revenue bonds — backed by revenue generated from a project funded with
bond proceeds and repaid by earnings from the operations of a revenue-
producing enterprise.
• Conduit Revenue Bonds — tax-exempt bonds issued by charter cities or joint
powers authorities for economic development or multifamily housing. The bond
is payable from loan payments received from the non-governmental developer
on the condition of a public benefit, and it presents no liability for the
governmental entity.
• Community Facilities Districts — bonds used mainly to finance public works
improvements and services or to pay for specific, limited improvements related
to privately-owned or real property. The parcel tax associated with the specific
improvements requires two-thirds voter approval. This program works best with
undeveloped areas.
• Brownfields Assistance — assistance to assess and remediate abandoned or
underused industrial and commercial property. Funding may be avaiable via the
Environmental Protection Agency and federal/state agencies.
Page � 23
VII. Conclusions:
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The EDSP has been created as a guide to achieve successful, sustainable economic
development for the City of Palm Desert. While many of the immediate actions are in
place and ongoing, mid-term efforts and long-term strategies will require research,
development, and possible funding.
As the national and regional economic climate changes, available public resources will
wax and wane. This perpetually shifting fiscal landscape argues for an annual review of
the EDSP to evaluate results and articulate new strategies and programs. As new
funding opportunities emerge, Palm Desert will be able to implement new programs
listed within the City's Economic Development Strategic Plan.
Page � 24