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Council approves hotel operations covenant for Yara Hotel under city incentive program
Summary
The Palm Springs City Council voted to approve a hotel operations covenant for the Yara Hotel, certifying $857,122 in qualifying project costs under the city’s Hotel Operations Incentive Program (Municipal Code chapter 5.26).
The Palm Springs City Council voted to approve a hotel operations covenant for the Yara Hotel, certifying $857,122 in qualifying project costs under the city’s Hotel Operations Incentive Program codified in Municipal Code chapter 5.26.
Wayne Olson, the city’s chief economic development officer, said the property (211 East Sonora Road, District 5) documented $857,122 of reimbursable expenses and therefore qualified under program rules, which require an aggregate project cost of more than…
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