City Council

D.\nA PUBLIC HEARING REGARDING THE CONSIDERATION OF ECONOMIC SUBSIDY\nREPORTS BETWEEN THE CITY OF PALM SPRINGS AND EIGHT HOTEL\nOWNERS/OPERATORS PURSUANT TO GOVERNMENT CODE SECTION 53083.\nRECOMMENDATION:\n1. Conduct a public hearing;\n2. Approve and accept the Economic Development Subsidy Reports prepared pursuant\nto Gov. Code, § 5308 (Attachments A through H); and,\n3. Authorize the City Manager to execute any necessary steps to implement.\n4. Approve a Covenant Agreement baseline adjustment from $102,481.21\nto $38,396.99 for the Yara Hotel, originally approved by the City Council in February\nof 2025, and to be dated to the approval date of February 13, 2025, and authorize the\nCity Manager and City Attorney to make conforming and non-conforming changes to\neffectuate the Agreement.\n3.\nBUSINESS & LEGISLATIVE: