Pres

1. John Raymond
City of Palm Springs
May 17, 2013

2. Budget and Impact of TOT
Tourism in Palm Springs
Convention Center
Attractions
Events
Hotels – New and Existing
PS International Airport
Downtown/Uptown
Downtown Project
Palomar Hotel
Unique Features
Architecture/History
Indian Land Impacts
Economic Development
CViHub/Accelerator
Changes/Challenges

3. Budget Summary
Actuals Adopted Projected
2011-2012 2012-2013 2012-2013
Revenues $71,268,550 $76,428,275 $76,697,703
Savings Carryforward
from 11-12 to 12-13 1,740,590 1,740,590
Expenditures (68,605,934) (78,168,865) (78,168,865)
Net Surplus / (Deficit) $2,662,616 $0 $269,428
Projected Unrestricted
Ending Balance $11,779,373 $13,041,689 $13,311,117
Reserve % Equivalency 17% 17% 17%

4. TOT and Sales Taxes Summary
08-09 Actual 09-10 Actual 10-11 Actual 11-12 Actual 12-13 Budget
Hotel Tax $12,751,478 $13,367,685 $15,662,280 $17,861,268 $18,200,000
Sales Tax 8,796,538 8,221,763 9,633,250 10,179,526 10,629,504
Measure J 0 0 0 1,950,533 8,000,000
TOT +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. Airline Service
Attractions
Special Events
History
Architecture
Natural Beauty
Native American
Culture
Hotel Inventory
Downtown and
Uptown

7. 1,300,000
1,350,000
1,400,000
1,450,000
1,500,000
1,550,000
1,600,000
1,650,000
1,700,000
1,750,000
2008 2009 2010 2011 2012
+14.3%

8. Pop
Rank Metropolitan Area Year-round Seasonal
1 New York
2 Los Angeles Y
3 Chicago Y
4 Washington/Baltimore
5 San Francisco Y
6 Philadelphia
7 Boston
8 Detroit
9 Dallas/Fort Worth Y
10 Houston Y
11 Atlanta Y
12 Miami/Ft Lauderdale
13 Seattle Y
14 Phoenix Y
15 Minneapolis Y
PSP Service

23. Downtown’s street-level door front vacancy rate
has dropped from 10% last year to 7.5%.
For the first time in over 5 years the Tahquitz
Canyon corridor between Indian and Palm
Canyon Drive has maintained 95% occupancy
for over 8 months.

24. Uptown Pioneer Trina Turk
expanded her flagship store in
Palm Springs and celebrated a
national partnership with
Banana Republic which
fostered national recognition
nationwide touting “Palm
Springs Style”.

25. With an astounding 90% participation rate among its
merchant base, the Uptown District undertook its third
year of managing its own branding with a brochure,
billboard and Airport advertising campaigns which
have solidified this area as the “chic” retro retail area,
and garnered worldwide press.

30. • 13 Businesses Currently in
Program
• 3 Clients Chosen to Present
at “World’s Best Tech”
Conference
• Recognized as Best Practices
iHub by State, Co-Authored
California iHub Plan
• Partnering with National
Renewable Energy Lab in
Golden, CO for Tech Transfer

31. Phase 1 - Accelerator
Campus to open with 4
companies in April, 2013
(13,000 square feet)
Phase 2 - Accelerator in
Planning/Fundraising
Stage (40,000 square
feet)
CViHub Accelerator
“Investment Grade” Start-Ups
2012
Heppolt LLC

33. John S. Raymond
Director of Community & Economic Development
City of Palm Springs
office phone: 760.323.8228
cell phone: 760.902.1903
e-mail: John.Raymond@palmspringsca.gov