HomeMy WebLinkAboutFunding - CVEP FY 2013-14 CITY OF PALM DESERT
STAFF REPORT
REQUEST: APPROVE A FUNDING COMMITMENT OF $50,000 TO THE
COACHELLA VALLEY ECONOMIC PARTNERSHIP'S 2013/2014
FISCAL BUDGET
SUBMITTED BY: Ruth Ann Moore, Economic Development Manager
DATE: June 13, 2013
CONTENTS: Letter of Request from the Coachella Valley Economic Partnership
Recommendation
By Minute Motion, approve a funding commitment of $50,000 to the
Coachella Valley Economic Partnership's 2013/2014 fiscal budget.
Funds have been included in the proposed Financial Budget for 2013/2014
in the Economic Development Dues; Account No. 110-4430-422-3630.
Executive Summary
Over the last several years, the Coachella Valley Economic Partnership (CVEP) has
developed a blueprint of goals, reorganized the board of directors and by-laws and hired
a new CEO to lead the organization in order to compete with other regions to retain and
grow high-value, sustainable jobs in the Coachella Valley. CVEP also approved a
three-year Business Plan that outlines its key policies, organizational goals, program
strategies, a resource allocation plan and a format for reporting results.
CVEP is asking all of the Coachella Valley Cities and the County to contribute to funding
the attraction of business as they continue to investigate a self-funding mechanism.
According to Tom Flavin, President & CEO for CVEP, the following cities made financial
commitments below and are asked to do the same for FY 2013/2014:
• Indian Wells $100,000
• Palm Springs $100,000
• Rancho Mirage $ 50,000
• La Quinta $ 50,000
• Palm Desert $ 50,000
• Coachella $ 50,000
• Desert Hot Springs $ 50,000
• Cathedral City $ 25,000
• Indio $ 25,000
Staff Report
CVEP Contribution 2013-2014
June 13, 2013
Page 2 of 3
Backqround
At the recent State of the City luncheon CVEP reviewed their results for the previous
year, including:
• In fiscal year (FY) 2011/`12, CVEP has worked with 237 new/expanding
companies that generated or retained over 3,224 jobs throughout the valley.
• Currently, CVEP is working with 29 clients for new/expanding businesses in Palm
Desert.
• Assistance to companies last year created and retained 84 jobs in Palm Desert.
• CVEP continues to maintain offices in Palm Desert at UCR where the Small
Business Development Center (SBDC) team provides financial assistance and
seminars with local businesses each month.
• Under CVEP, Workforce Excellence gave $1.7 million in scholarships, with
$95,000 going to Palm Desert students.
• Of those Coachella Valley students receiving scholarships, 50% remain in the
valley to attend higher learning at the various education centers in Palm Desert.
CVEP is investigating various funding sources such as valley-wide assessments or
business improvement districts in order to take the financial burden off of the cities.
They have formed an internal committee of business and civic leaders to develop a
solution for reoccurring funding of CVEP and plan to present to the board of directors
this upcoming year. Currently, CVEP is looking for a one-year commitment of $50,000
from Palm Desert.
Fiscal Analysis
Funding for the contribution is included in the proposed FY 2013/2014 General Fund
budget.
G:\rda\Ruth Ann Moore\word data\STAFF REPORTS\CVEP contribution 2013-2014.doc
Staff Report
CVEP Contribution 2013-2014
June 13, 2013
Page 3 of 3
Palm Desert currently plays a regional role in its support of the Convention and Visitors
Bureau, and its participation as an education hub for the Coachella Valley. This
increases the economics of the valley and quality of life for Palm Desert residents.
Attracting business to the Coachella Valley whether located in Palm Desert, another
city, or the unincorporated area will add wealth to the community allowing Palm Desert
to increase its tax base. Therefore, staff recommends the motion.
Su i#� y: Depart He d:
ut Ann Moore �tin Alvarez
Economic Development Manager Director of Economic Development
CTfY COUNCILAt,"%T�IOM
APPROVED � DFNiEb
RECEIVED OTHER
aul S. Gibson, Director of Finance MEETI DA
Approval: AYES:
NOES:
ABSENT:
ABSTAIN:
VERIFIED BY:
Original on File with i lerk's Office
o n M. Wohlmuth, City Manager
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COACHEI.LA VALLEY E�t�i�Clridlt� ��€�Tt��l���i1F�
March 26, 2013
Mayor Jan Harnik
City of Palm Desert
73-510 Fred Waring Drive
Palm Desert, CA 92260-2578
RE: FY13-14 Budget Request
Dear Mayor Harnik:
On behalf of the Board of Directors, I want to thank the City of Palm Desert for your support of
the Coachella Valley Economic Development Partnership (CVEP). FY12-13 was a very successful
year for the organization and we have seen real improvement in the regional economy. As you
know, much remains to be done but the economic momentum is heading in the right direction
and the Coachella Valley has many opportunities in front of it.
As your budget preparation process moves forward over the next few months, CVEP would like
the opportunity to make a report to the City Council on the achievements of the past year and
plans for the upcoming year. The Coachella Valley is moving to the forefront in economic and
workforce development in the State of California and we would like to show how the region and
City of Palm Desert have benefited.
We respectfully request that the City maintain its 2012-13 funding level for FY13-14 and look
forward to hearing from you on a formal presentation. Thank you, as always, for your
continuing support.
Sincerely,
Thomas Flavin
President&CEO
cc: Ruth Ann Moore
Executive Committee
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