The Palm Springs City Council will likely approve a new incentive program aimed at reviving residential construction, and consider giving additional funding to two other programs, tonight.
City Manager David Ready will present an update on the city’s Economic Recovery Plan to the council at the 6 p.m. meeting at the Council Chamber, 3200 E. Tahquitz Canyon Way.
The city adopted a $1 million economic recovery plan in January that aimed to return tax revenues to pre-recession levels.
Ready said he will ask for an $100,000 in additional funding for two “successful” efforts — the Facade Improvement and Commercial Interior Remodel programs. The initial $100,000 allocated to each program has been used up.
For the interior remodel program, downtown businesses can receive $25,000 in matching funds for improvements, according to Ready.
He will also ask the council to create a New Residential Construction Incentive Program and allocate $400,000 in funds.
“Several projects in town … because of the economic decline, failed to move forward,” Ready said.
The program would allow the city to waive some fees, contribute up to $50,000 per project for plan check fees and give $4,000 for infrastructure improvements, according to a city staff report.
The council will also consider spending more than $2.1 million to purchase 119 acres in Palm Springs for the College of the Desert’s West Valley Campus, which will provide job training programs.
The campus would cost about $40 million and be operational by the fall of 2014, according to the COD website.